Fitness First (Curzons) Ltd. (02734288): administration

Status

Administration ended

Administration began

2023-04-05

Administrators

Robert Scott Fishman, Gavin Maher

Administrators' firm

Teneo

Formerly

Curzons Management Associates Limited; Curzon Management Associates Limited; Tarascon Leisure Limited

Incorporated

1992-07-24

Location

Birmingham

Industry

93130 Fitness facilities

From the administrators' statement

The COVID-19 pandemic and subsequent enforced closure of all gyms had a material impact on the business and fundamentally changed both the financial performance and the capital structure of the Group.

The mandated closures of all gyms in 2020 and 2021 resulted in a reduction in the number of members and following a slower than expected recovery, specifically in the London city centre clubs, which impacted FFCL’s ability to provide ongoing funding to meet the costs of the Company’s leases.

Steps taken to remedy/turnaround

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Fitness First (Curzons) Ltd. (02734288)

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