Atrium Fitness Ltd (06762565): administration
- Status
- Administration ended
- Administration began
- 2023-04-28
- Administrators' firm
- Cooper Young & Partners
- Formerly
- The ELY Fitness Company Ltd.; Inspirex Limited
- Incorporated
- 2008-12-01
- Location
- Woodford Green
- Industry
- 93130 Fitness facilities
Why it went into administration
- Rising costs / inflation
- Cash flow / liquidity pressure
- COVID-19
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
Creditors should note that, unless otherwise stated, this report has been prepared based on information provided to me by the Directors of the Company and not from my personal knowledge as Administrator.
Atrium Fitness Ltd, (the “Company”) was incorporated on 1 December 2008 and commenced trading soon after as Atrium Fitness. The current management team took over the business in 2012.
The Company provides subscription model fitness service, including yoga, HITT and various other indoor classes. The business has grown organically and prior to the onset of COVID19 had c. 1,800 active memberships. Other than potentially a handful of initial members, all members have a monthly rolling contract with payments predominantly being received through direct debits. Historically the Company has relied on external teachers to undertake its various fitness classes.
Administrators' statement of proposals (2023-05-18) · Companies House register