Helix Fitness Limited (11963182): administration
- Status
- Administration ended
- Administration began
- 2022-09-27
- Administrators
- Iain Townsend, Martyn James Pullin
- Administrators' firm
- FRP Advisory
- Incorporated
- 2019-04-25
- Location
- Stockton-on-Tees
- Industry
- 93130 Fitness facilities
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was initially incorporated in April 2019 to purchase an Anytime Fitness franchise with the intention of taking advantage of the recent growth in the fitness industry. The Company traded from 13-23 Northgate Street South, Gloucester and was open 24 hours in line with the Anytime Fitness franchise model. The Director of the Company, Mr Max Leslie John Williams, is also its sole shareholder, holding 10 ordinary shares.
Following fit out the Company commence trading on 21 January 2020, shortly after this, due to the COVID-19 pandemic, the country was placed into Lockdown and the Company forced to close to the public. The financial impact of the lockdown was significant with the Company still having to cover its fixed costs with no income.
The lockdown also had an impact on the growth of members that would have been expected from a newly opened gym, this was twofold, firstly due to the closure so soon after opening and secondly people not willing to take out new gym membership with the uncertainty around further potential lockdowns.
Administrators' statement of proposals (2022-11-02) · Companies House register