# Fitness Global Brand Management Limited (04770441)

> Why UK company 04770441 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04770441

- **Status:** Administration ended
- **Administration began:** 2020-06-23
- **Administrators:** Philip Lewis Armstrong, Alastair Massey
- **Administrators' firm:** FRP Advisory
- **Formerly:** Energie Global Brand Management Limited; Energie Group Limited; Energie Fitness Clubs Limited; Swift Membership Services Limited
- **Incorporated:** 2003-05-19
- **Location:** London
- **Industry:** 70229 Management consultancy activities other than financial management

## Why it went into administration

- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure

## From the administrators' statement

On the 20 March 2020, the Government ordered all gyms to close to combat the spread of Covid-19 leading to gym memberships either being frozen or cancelled. The franchisees were, therefore, not receiving any income and therefore were not paying their fees to the Group.

Due to deteriorating financial performance the Group was coming under greater cash pressure and Bridges was unable to reach an agreement with RM with respect to funding requirements moving forward.

This culminated in RM issuing a notice against the Group dated 1 June 2020 demanding £8.2m following the filing of the first two NOIs (Event of Default).

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04770441/filing-history/MzI3NjAwNjcxNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04770441

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.