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UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Glenn Earlam pushes back on reports of 'material uncertainty' at David Lloyd

We expect post-pandemic trading to be strong and are optimistic we can restart our ambitious investment programme soon after our business begins to trade as normal
– Glenn Earlam
Credit: David Lloyd Clubs

David Lloyd Leisure has become the latest operator to have its auditors flag up the detrimental effect of the pandemic on the business.

In its annual accounts, Deloitte has said the uncertainties surrounding government-ordered closures could cast "significant doubt" on the group and its future.

The comments come just days after rival operator Virgin Active signalled its intention to raise cash to buffer it from the impact of the pandemic.

However, speaking to HCM, DLL CEO, Glenn Earlam, said a significant number of leisure businesses have had to declare 'material uncertainty' in their accounts, due to the pandemic.

He said DLL was in "very good shape prior to the lockdown" and would return to a similar position, once the current club closures come to an end.

"Our business was growing aggressively before the global pandemic, but the crisis has brought uncertainty across the whole of the leisure sector, and we need an escalated vaccine rollout, so the industry can reopen its doors as soon as possible," Earlam said.

"As the nation is now prioritising its health and fitness, we expect post-pandemic trading to be strong, and are optimistic we can restart our ambitious investment programme soon after our business begins to trade as normal."

DLL's banks are not due to renew their lending agreements until next year, giving the operator time to rebuild its income streams once the vaccine has been implemented and clubs reopened.

David Lloyd is one of Europe’s largest premium operators, with 124 clubs – 100 in the UK and a further 24 across Europe. The clubs are managed under its two brands, David Lloyd Clubs and Harbour Clubs.

The company has been creative in tackling the pandemic emergency, being the first national operator to reopen for tennis and then outdoor workouts and one of the first to launch a hybrid offering. Earlam has also been very active in lobbying for the sector.

David Lloyd has also just launched a timely new initiative called Team PB, to help people counter the negative effects of lockdowns.

David Lloyd Leisure has become the latest operator to have its auditors flag up the detrimental effect of the pandemic on the business.
PTS,HAF,FIT,IND
2021/THUMB346915_984786_527948.jpg
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News

Glenn Earlam pushes back on reports of 'material uncertainty' at David Lloyd

We expect post-pandemic trading to be strong and are optimistic we can restart our ambitious investment programme soon after our business begins to trade as normal
– Glenn Earlam
Credit: David Lloyd Clubs

David Lloyd Leisure has become the latest operator to have its auditors flag up the detrimental effect of the pandemic on the business.

In its annual accounts, Deloitte has said the uncertainties surrounding government-ordered closures could cast "significant doubt" on the group and its future.

The comments come just days after rival operator Virgin Active signalled its intention to raise cash to buffer it from the impact of the pandemic.

However, speaking to HCM, DLL CEO, Glenn Earlam, said a significant number of leisure businesses have had to declare 'material uncertainty' in their accounts, due to the pandemic.

He said DLL was in "very good shape prior to the lockdown" and would return to a similar position, once the current club closures come to an end.

"Our business was growing aggressively before the global pandemic, but the crisis has brought uncertainty across the whole of the leisure sector, and we need an escalated vaccine rollout, so the industry can reopen its doors as soon as possible," Earlam said.

"As the nation is now prioritising its health and fitness, we expect post-pandemic trading to be strong, and are optimistic we can restart our ambitious investment programme soon after our business begins to trade as normal."

DLL's banks are not due to renew their lending agreements until next year, giving the operator time to rebuild its income streams once the vaccine has been implemented and clubs reopened.

David Lloyd is one of Europe’s largest premium operators, with 124 clubs – 100 in the UK and a further 24 across Europe. The clubs are managed under its two brands, David Lloyd Clubs and Harbour Clubs.

The company has been creative in tackling the pandemic emergency, being the first national operator to reopen for tennis and then outdoor workouts and one of the first to launch a hybrid offering. Earlam has also been very active in lobbying for the sector.

David Lloyd has also just launched a timely new initiative called Team PB, to help people counter the negative effects of lockdowns.

David Lloyd Leisure has become the latest operator to have its auditors flag up the detrimental effect of the pandemic on the business.
PTS,HAF,FIT,IND
2021/THUMB346915_984786_527948.jpg

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1 - 20 of 12,209
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Having a portfolio of more than 1,000 health club locations is the aim of ambitious operators, with this elite category growing fast, creating new dynamics in the market
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Sponsored
Yate Leisure is one of the largest sites in Circadian Trust’s portfolio, with around 4,000 members. Ben Beasley, director of commercial development, explains why they were an early adopter of Technogym Biocircuit, and how the offer has evolved
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Featured supplier news
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According to our poll the first thing 80 per cent of operators and gym owners think about when it’s time to sell gym equipment is how much your equipment is worth.
Featured supplier news
Featured supplier news: Magicline celebrates UK market entry at Elevate
With a focus on globalisation, Magicline has officially launched its software in the UK. As Europe’s leading gym management software company, the company strives to provide the best tools for gym owners to be successful, win new members and elevate their businesses.
Featured operator news
Featured operator news: Everyone Active to launch new exercise classes to reduce gender gap
As part of their work to break down the barriers that deter women and girls from participating in sport and physical activity, Everyone Active has teamed up with EMD UK to launch new exercise classes linked to the This Girl Can campaign.
Featured operator news
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Sport Alliance GmbH
Total Vibration Solutions / Floors 4 Gyms / TVS Sports Surfaces
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Company profile: Perfect Gym Solutions S.A.
Perfect Gym currently provides fitness software solutions to customers in 55+ countries, servicing more than ...
Company profiles
Company profile: EGYM UK Ltd
EGYM empowers gym operators to deliver a workout experience that supports their members' lifelong fitness ...
Supplier Showcases
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Catalogue Gallery
Click on a catalogue to view it online
Directory
On demand
Fitness On Demand: On demand
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
trade associations
International SPA Association - iSPA: trade associations
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A Panatta Sport Srl: Fitness equipment
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Diary dates
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ExCeL London, London, United Kingdom
Diary dates
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Diary dates
12-13 Sep 2022
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25-28 Oct 2022
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