Troubled Brighton gym looks likely to stay open

Posted On 05 Jun 2012 at 7:24 pm

A Brighton gym is likely to remain open and in the same hands despite the owner’s financial difficulties.

Fitness First, which owns a gym in Queen’s Road, near Brighton railway station, has asked accountants to come up with a financial rescue package.

The package – known as a company voluntary arrangement (CVA) – will mean dozens of branches are put up for sale.

But today (Tuesday 5 June) the firm of accountants behind the rescue package, KPMG, said: “The Queen’s Road branch of Fitness First is not one of the gyms which has been put up for sale.

The Medical

“Instead, it is one of a total of 57 gyms which will be retained by Fitness First and which, subject to the approval of the CVA by creditors, will be retained at current rents (not reduced), which will be paid monthly as opposed to quarterly for three years.”

Creditors are due to vote on the deal on Wednesday 20 June.

 

Leave a Reply

*