Sat, 17 May 2014 | BUSINESS NEWS
Sports Direct is considering moving into the fitness market as its owner Mike Ashley is weighing up buying around 30 of LA Fitness' gyms.
We reported in March that the gym chain LA Fitness was considering selling almost all of its premises in a bid to secure its long-term future in a competitive marketplace. News this week has suggested that Sports Direct could step in to buy the fitness centres as it ponders branching out into the lucrative health and leisure sector.
A spokeswoman for LA Fitness confirmed the claims, but only went as far as to say: "We've been in discussions with lots of people and Sports Direct are one of them." It is unclear how Sports Direct, which has over 600 sports stores across Europe including 400 in the UK, is yet to comment on proceedings.
If the deal does go ahead as expected it is unclear how the gyms will be branded – whether as part of Sports Direct or as a separate entity.
Mike Ashley has already been in the news this year for making bold acquisitions; he snapped up a stake in Debenhams, which he sold and swapped for an option over a larger share within days of the buy, and an 11 per cent stake in House of Fraser.
______________________________________________________________________
Related information:
LA Fitness to sell almost half its gyms
Business acquisition funding
An opportunity has arisen to acquire the client base and associated work in progress (WIP) of an FCA-regulated claims management business. The asset includes a portfolio of clients who have signed instructions for claims-related services, representin...
Established UK based software product company, that is focused on producing innovative and transformational large-scale software solutions to manage complex Networks, IT infrastructure and Services for Telecoms Operators & CSP’s, Smart Energy, Large...
An opportunity to purchase the assets of a well-established printing specialist business based in the North East.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.