August 5, 2020 10.51 am This story is over 39 months old

DW closes Gainsborough gym, Lincoln remains open in August

The firm entered administration on Monday

DW Sports has closed its gym in Gainsborough after the parent company entered administration.

The company closed the DW Fitness Club branch on Tuesday at 8pm, 13 years after first opening in Marshall’s Yard.

The Lincoln branch of DW Sports will remain open throughout August while the company look for a new buyer, after entering administration on Monday.

The coronavirus pandemic was the main cause of the financial troubles at the company, chief executive Martin Long said.

He told the BBC the lockdown closure left them “with a high fixed-cost base and zero income”.

The firm’s income is reportedly around £15 million a month, but that was down to zero overnight, while it still had a £3 million monthly wage bill — though up to 80% could be claimed in furlough.

The gym and sports retailer operates 73 gym and 75 stores across the country. All stores will close while administrators try to rescue as many gyms as possible.

Over 1,700 jobs are at risk. The DW Sports website has also been shut down.