Fri, 02 Apr 2021 | ADMINISTRATION
Total Fitness, a fitness group that owns 17 gyms across the north of England and Wales, has announced that it has entered into a company voluntary arrangement (CVA) after being severely impacted by COVID-19 lockdown restrictions.
The company, which will reopen all but one of its facilities, has appointed Tracey Pye and Richard Harrison of administration and advisory service KPMG to provide guidance as it seeks to avoid entering administration and explore its options moving forward.
In addition, a spokesperson revealed that Total Fitness has sought out the support of its suppliers and partners, including landlords, as it attempts to secure the future of the business.
The firm has blamed the COVID-19 pandemic for its financial issues, suggesting that it is facing similar problems to many other companies that have dealt with long-term closure as a result of lockdown restrictions.
"The COVID-19 crisis has been hugely challenging for many industries, particularly for those that have been closed for long periods of time, such as the fitness industry," the spokesperson added.
"Total Fitness is no exception to the impact of COVID-19 and is now seeking the assistance of all partners (landlords and suppliers) to support the strong, long-term future of the business by launching a CVA. We are being supported in this process by our owners and also by our advisors, KPMG."
Total Fitness first launched in 1993 on the Isle of Man but has since expanded across parts of England and Wales. Since June 2018 it has been headed by CEO Sophie Lawler. Commenting on the announcement, she said: "The cumulative effects of the lockdown restrictions have had a major impact on gym and health clubs across the UK.
"Total Fitness clubs have now been closed for eight months. With membership payments on pause, this means we are operating with very limited income and continuing costs."
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