Thrive 24 Ltd. (11013482): administration
- Status
- Administration ended
- Administration began
- 2023-03-09
- Administrators
- Rochelle Schofield, Mike Dillon
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2017-10-16
- Location
- Manchester
- Industry
- 93130 Fitness facilities
Why it went into administration
- Rising costs / inflation
- Creditor pressure / legal action
- Property / lease costs
- Energy costs
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 16 October 2017 with the initial intention of operating commercial gyms at various locations throughout the country.
Initially, the Company concentrated on two sites in North West England and spent the first few years locating suitable premises and then renovating those premises to make them fit for purpose as commercial gyms. During this opening period of around 3-4 years, the Company generated income by sub-letting parts of the buildings that they had rented. This income allowed the Company to cover its operating expenditure in these years.
In late 2021 / early 2022, the Company opened the gyms at its two sites under leasehold premises at Breightmet
Administrators' statement of proposals (2023-05-12) · Companies House register