GET HCM
magazine
Sign up for the FREE digital edition of HCM magazine and also get the HCM ezine and breaking news email alerts.
Not right now, thanksclose this window
HID Global
HID Global
HID Global
Follow Health Club Management on Twitter Like Health Club Management on Facebook Join the discussion with Health Club Management on LinkedIn Follow Health Club Management on Instagram
UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Basic-Fit raises €150m additional financing to weather COVID and drive expansion

Europe’s largest fitness chain, Basic-Fit, has secured a €150m bridge facility, which it says will provide it with the financial flexibility to weather the impact of the pandemic and to "recommence its growth strategy".

The group, which currently operates 905 clubs across the continent, revealed in October 2020 that it plans to open a further 337 clubs by the end of 2022.

In a statement, Basic-Fit said that the pandemic had resulted in widespread closures across its European estate, but that it expects to resume its expansion programme once lockdown restrictions are lifted.

"As a result of the government measures, following the second COVID-19 wave, we had to start closing clubs again at the end of September,"

"By mid-December, all our clubs in the Netherlands, Belgium and France were closed.

"We ended 2020 with a total network of 905 clubs (up 121 clubs year on year) of which 851 clubs are still closed, and 54 clubs (Spain and Luxembourg) remain open.

"We ended 2020 with 2.0 million members (2.2 million year-end 2019).

"With the continued uncertainty regarding the timing of reopening of our clubs in the countries where these are currently closed, the additional facility is expected to ensure ample liquidity for Basic-Fit during this pandemic and to keep us well positioned post-COVID-19 to resume our growth path.

"With our clubs being closed in our largest countries, we continue to manage our cash outflow by keeping capital expenditure at a minimum and operating with a reduced cost base."

ABN AMRO and Rabobank acted as Bookrunning Mandate Lead Arrangers on the bridge facility. Basic-Fit anticipates to refinance the committed bridge facility "with debt, equity or equity-linked instruments or a combination thereof".

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Related news

Basic-Fit trading update shows operator planning 348 more clubs by end of 2022

27 Oct 2020
Europe's largest gym chain, Basic-Fit, has published its trading update for the first nine months ...

Rene Moos: Basic-Fit's recovery "very strong" following lockdown. Long term plans still viable

03 Aug 2020
Europe's largest gym chain, Basic-Fit, has provided the European fitness sector with some optimism, after ...

Basic-Fit launches €135m share issue – values company at €1.334bn

09 Jun 2020
Basic-Fit has launched a new share issue as it restarts its growth plans for the ...
Latest News
Gyms and leisure centres in Scotland are set to open on 26 April, provided that ...
Latest News
Hundreds of gyms, swimming pools and leisure centres have been forced to close and thousands ...
Latest News
People placing increased emphasis on their physical fitness, the advances made in digital fitness and ...
Latest News
A new guide looks to offer local level practitioners and commissioners – as well as ...
Latest News
What are the effects on public health of gyms and leisure centres being shut during ...
Latest News
Mobile data and analytics provider App Annie has released its State Of Mobile 2021 report, ...
Latest News
The world's largest fitness trade fair, FIBO, has been rescheduled to November. The event will ...
Latest News
PM, Boris Johnson, has confirmed that gyms, swimming pools and leisure centres in England will ...
HCM Magazine
HCM People
The main priority is to provide safe cycling environments via bike lanes and low traffic neighbourhoods
HCM Magazine
Research
Tracking consumers’ sentiment in relation to lockdowns gives valuable insights into members’ priorities. Leisure-net surveyed the first two UK lockdowns and is currently working on the third. Dave Monkhouse reports on results from the lockdown 2 survey
HCM Magazine
Supplier showcase
Third Space members embrace new digital app, viewing 75,000 workouts in just three months
HCM Magazine
Policy
Muir Gray has a vision for a world where exercise professionals help people live longer, better lives into old age
HCM Magazine
Sponsored
Welcome to the world of creative fitness, where exercise and fun merge to change the way we train
HCM Magazine
Sponsored
Offering red light therapy to your members can create a valuable source of secondary spend, while also supporting them with their recovery and delivering improvements to mobility, circulation and muscle soreness, as Karen Maxwell explains
HCM Magazine
The great debate
Most of the world is dealing with some form of disruption to daily life, work life and finances, as well as navigating an uncertain world. Even those who enjoy robust mental health are finding themselves suffering from stress, anxiety, low mood and insomnia. What can the health and fitness industry do to help? Kath Hudson reports
HCM Magazine
HCM magazine
Resistance training is just as beneficial for women over the age of 50 as it is for men, according to a new study from the University of New South Wales
HCM magazine
There’s never been a more important time for us all to be focused on lobbying, as the industry fights for its work and potential to be recognised and supported
HCM magazine
It speaks volumes that the very first time we went for Investors in People, we came out with a gold rating. Our culture is very important to us
Featured supplier news
Featured supplier: AskNicely helps empower businesses to improve customer experience and boost NPS
Maintaining a consistent member experience across a growing health and fitness brand can prove challenging.
Featured supplier news
Featured supplier: Strengthening your mind...one work out at a time
There’s nothing quite like discovering a product that creates a huge impact in our life. After all, isn’t that what we’re all searching for?
Company profiles
Company profile: Venueserve Fitness
Venueserve Fitness is an easy-to-use, low-cost web- and mobile online exercise platform, already being used ...
Company profiles
Company profile: Gympass
On a mission to defeat inactivity, Gympass is a corporate wellness solution that builds mutually ...
Supplier Showcases
Supplier showcase - Venueserve Fitness
Supplier Showcases
Supplier showcase - Egym: Game changer
Catalogue Gallery
Click on a catalogue to view it online
Directory
Trade associations
International SPA Association - iSPA: Trade associations
Flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Flooring
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Management software
fibodo Limited: Management software
Red Light Therapy
 Red Light Rising: Red Light Therapy
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Wearable technology solutions
MyZone: Wearable technology solutions
Skincare
Sothys: Skincare
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Member feedback software
AskNicely: Member feedback software
Property & Tenders
Diary dates
03-04 Mar 2021
NEC, Birmingham, United Kingdom
Diary dates
03-06 Jun 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
12 Jun 2021
Worldwide, Various,
Diary dates
13-14 Jun 2021
Online,
Diary dates
16-17 Jun 2021
ExCeL London, London, United Kingdom
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates

News

Basic-Fit raises €150m additional financing to weather COVID and drive expansion

Europe’s largest fitness chain, Basic-Fit, has secured a €150m bridge facility, which it says will provide it with the financial flexibility to weather the impact of the pandemic and to "recommence its growth strategy".

The group, which currently operates 905 clubs across the continent, revealed in October 2020 that it plans to open a further 337 clubs by the end of 2022.

In a statement, Basic-Fit said that the pandemic had resulted in widespread closures across its European estate, but that it expects to resume its expansion programme once lockdown restrictions are lifted.

"As a result of the government measures, following the second COVID-19 wave, we had to start closing clubs again at the end of September,"

"By mid-December, all our clubs in the Netherlands, Belgium and France were closed.

"We ended 2020 with a total network of 905 clubs (up 121 clubs year on year) of which 851 clubs are still closed, and 54 clubs (Spain and Luxembourg) remain open.

"We ended 2020 with 2.0 million members (2.2 million year-end 2019).

"With the continued uncertainty regarding the timing of reopening of our clubs in the countries where these are currently closed, the additional facility is expected to ensure ample liquidity for Basic-Fit during this pandemic and to keep us well positioned post-COVID-19 to resume our growth path.

"With our clubs being closed in our largest countries, we continue to manage our cash outflow by keeping capital expenditure at a minimum and operating with a reduced cost base."

ABN AMRO and Rabobank acted as Bookrunning Mandate Lead Arrangers on the bridge facility. Basic-Fit anticipates to refinance the committed bridge facility "with debt, equity or equity-linked instruments or a combination thereof".

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Related news

Basic-Fit trading update shows operator planning 348 more clubs by end of 2022

27 Oct 2020
Europe's largest gym chain, Basic-Fit, has published its trading update for the first nine months ...

Rene Moos: Basic-Fit's recovery "very strong" following lockdown. Long term plans still viable

03 Aug 2020
Europe's largest gym chain, Basic-Fit, has provided the European fitness sector with some optimism, after ...

Basic-Fit launches €135m share issue – values company at €1.334bn

09 Jun 2020
Basic-Fit has launched a new share issue as it restarts its growth plans for the ...

News

Gyms and leisure centres in Scotland are set to open on 26 April, provided that
Hundreds of gyms, swimming pools and leisure centres have been forced to close and thousands
People placing increased emphasis on their physical fitness, the advances made in digital fitness and
A new guide looks to offer local level practitioners and commissioners – as well as
What are the effects on public health of gyms and leisure centres being shut during
Mobile data and analytics provider App Annie has released its State Of Mobile 2021 report,
Safe Space Lockers
Safe Space Lockers
Precor has launched a mobile app to accompany its popular networked fitness solution, Preva, which
The world's largest fitness trade fair, FIBO, has been rescheduled to November. The event will
PM, Boris Johnson, has confirmed that gyms, swimming pools and leisure centres in England will
The re-opening of gyms in Wales has been pushed back by the country's First Minister
The physical and mental health of women in the UK has been put under unprecedented
Excess body fat and obesity are likely to have contributed to more deaths in England
The financial performance of health club operator SATS in the last quarter of 2020 was
Miha Bodytec GmbH
Miha Bodytec GmbH
Heading into 2021, storytelling will be a key trend among fitness content creators and connected
FIBO has announced that its Chinese event next month will be held as a hybrid
Placing gyms and leisure centres at the front of the queue for reopening would be
Data published today (17 February) shows that for every 100,000 visits to UK gyms and
People aged 40 living with Type 2 diabetes face a "disproportionately increased risk of dying
Barbara den Bak, Tom Moos, and Clare Stobart have been announced as speakers for ukactive's
PureGym expects lockdowns to last "until at least 31 March" – and that it will
MyZone Group Ltd
MyZone Group Ltd
There’s nothing quite like discovering a product that creates a huge impact in our life.
Construction work has been completed on the £29m Sports Park project in Colchester. The new
Spanish capital Madrid has been hailed as an example of a city which understands the
fibodo Limited
fibodo Limited
1 - 20 of 11,797
HCM Magazine
HCM People
The main priority is to provide safe cycling environments via bike lanes and low traffic neighbourhoods
HCM Magazine
Research
Tracking consumers’ sentiment in relation to lockdowns gives valuable insights into members’ priorities. Leisure-net surveyed the first two UK lockdowns and is currently working on the third. Dave Monkhouse reports on results from the lockdown 2 survey
HCM Magazine
Supplier showcase
Third Space members embrace new digital app, viewing 75,000 workouts in just three months
HCM Magazine
Policy
Muir Gray has a vision for a world where exercise professionals help people live longer, better lives into old age
HCM Magazine
Sponsored
Welcome to the world of creative fitness, where exercise and fun merge to change the way we train
HCM Magazine
Sponsored
Offering red light therapy to your members can create a valuable source of secondary spend, while also supporting them with their recovery and delivering improvements to mobility, circulation and muscle soreness, as Karen Maxwell explains
HCM Magazine
The great debate
Most of the world is dealing with some form of disruption to daily life, work life and finances, as well as navigating an uncertain world. Even those who enjoy robust mental health are finding themselves suffering from stress, anxiety, low mood and insomnia. What can the health and fitness industry do to help? Kath Hudson reports
HCM Magazine
HCM magazine
Resistance training is just as beneficial for women over the age of 50 as it is for men, according to a new study from the University of New South Wales
HCM magazine
There’s never been a more important time for us all to be focused on lobbying, as the industry fights for its work and potential to be recognised and supported
HCM magazine
It speaks volumes that the very first time we went for Investors in People, we came out with a gold rating. Our culture is very important to us
HCM magazine
We’ve launched several initiatives under the ‘Fitler Comes To You’ umbrella to keep our members engaged and connected
HCM magazine
More than 1,700 industry professionals from 47 different countries joined the virtual Retention Convention recently, making it one of the sector’s largest online events of the year
HCM magazine
Venueserve Fitness is working with the Health Club Collection to drive its digital customer engagement
HCM magazine
HCM People

Kate Little / Paula Harris

Kate Little & Paula Harris; regional retail managers, Everyone Active
All products have been priced competitively, using Amazon as a benchmark, to ensure the shop can thrive in a competitive market
HCM magazine
HCM People

Scott O’Shea

Founder, Station Mill
Coming from a personal training background, my experience has taught me that people hire the trainer before the training
HCM magazine
Stephen Tharrett, co-founder, ClubIntel
HCM magazine
Featured supplier news
Featured supplier: AskNicely helps empower businesses to improve customer experience and boost NPS
Maintaining a consistent member experience across a growing health and fitness brand can prove challenging.
Featured supplier news
Featured supplier: Strengthening your mind...one work out at a time
There’s nothing quite like discovering a product that creates a huge impact in our life. After all, isn’t that what we’re all searching for?
Company profiles
Company profile: Venueserve Fitness
Venueserve Fitness is an easy-to-use, low-cost web- and mobile online exercise platform, already being used ...
Company profiles
Company profile: Gympass
On a mission to defeat inactivity, Gympass is a corporate wellness solution that builds mutually ...
Supplier Showcases
Supplier showcase - Venueserve Fitness
Supplier Showcases
Supplier showcase - Egym: Game changer
Catalogue Gallery
Click on a catalogue to view it online
Directory
Trade associations
International SPA Association - iSPA: Trade associations
Flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Flooring
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Management software
fibodo Limited: Management software
Red Light Therapy
 Red Light Rising: Red Light Therapy
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Wearable technology solutions
MyZone: Wearable technology solutions
Skincare
Sothys: Skincare
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Member feedback software
AskNicely: Member feedback software
Property & Tenders
Diary dates
03-04 Mar 2021
NEC, Birmingham, United Kingdom
Diary dates
03-06 Jun 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
12 Jun 2021
Worldwide, Various,
Diary dates
13-14 Jun 2021
Online,
Diary dates
16-17 Jun 2021
ExCeL London, London, United Kingdom
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
Search news, features & products:
Find a supplier:
HID Global
HID Global