Les Mills
Les Mills
Les Mills
Health Club Management

Health Club Management

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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

Former Bannatyne Group finance director jailed for £8m fraud

The former finance director of the Bannatyne Group, Christopher Watson, has been jailed after admitting to defrauding the company out of nearly £8m over a six-year period.

The 46-year-old took £7,974,221 from July 2008 to July 2014, which he used to pay off millions of pounds of gambling debts and buy several properties.

Appearing at Teesside Crown Court, Watson was sentenced to four years and eight months in prison. Judge Howard Crowson said: "This was an abuse of position, of power and trust and responsibility. It was clearly fraudulent activity over a sustained period of time."

Duncan Bannatyne, who had previously said he felt ‘betrayed’, did not appear in court, but issued a statement which was read out by the prosecution. It said he was "absolutely shocked and appalled at the callous actions of Mr Watson," adding that he had previously looked into increasing the pay of some staff above the minimum wage, only to be told by Watson that “cashflow would not allow it".

Recently-published accounts show Bannatyne Fitness profits dropped from £10m to £3m in the past year. The accounts make clear what is believed to be the cause, noting: “During the year, the directors identified that misappropriation of the company and the group’s assets had been occurring for a number of years by former employees.”

Bannatyne Fitness – the health club chain started by Bannatyne in 1997 – now comprises more than 60 health clubs across the UK, with many also featuring a Bannatyne Spa.

Bannatyne has said that changes to his top team, which have included the appointment of Justin Musgrove as Bannatyne Group MD and Ken Campling as finance director of Bannatyne Fitness, mean that the business is now in “great shape” to move forward and expand.

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The former finance director of the Bannatyne Group, Christopher Watson, has been jailed after admitting to defrauding the company out of nearly £8m over a six-year period.
HAF,FIT,IND,PHR
992469_910570.jpg
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News

Former Bannatyne Group finance director jailed for £8m fraud

The former finance director of the Bannatyne Group, Christopher Watson, has been jailed after admitting to defrauding the company out of nearly £8m over a six-year period.

The 46-year-old took £7,974,221 from July 2008 to July 2014, which he used to pay off millions of pounds of gambling debts and buy several properties.

Appearing at Teesside Crown Court, Watson was sentenced to four years and eight months in prison. Judge Howard Crowson said: "This was an abuse of position, of power and trust and responsibility. It was clearly fraudulent activity over a sustained period of time."

Duncan Bannatyne, who had previously said he felt ‘betrayed’, did not appear in court, but issued a statement which was read out by the prosecution. It said he was "absolutely shocked and appalled at the callous actions of Mr Watson," adding that he had previously looked into increasing the pay of some staff above the minimum wage, only to be told by Watson that “cashflow would not allow it".

Recently-published accounts show Bannatyne Fitness profits dropped from £10m to £3m in the past year. The accounts make clear what is believed to be the cause, noting: “During the year, the directors identified that misappropriation of the company and the group’s assets had been occurring for a number of years by former employees.”

Bannatyne Fitness – the health club chain started by Bannatyne in 1997 – now comprises more than 60 health clubs across the UK, with many also featuring a Bannatyne Spa.

Bannatyne has said that changes to his top team, which have included the appointment of Justin Musgrove as Bannatyne Group MD and Ken Campling as finance director of Bannatyne Fitness, mean that the business is now in “great shape” to move forward and expand.

Sign up for FREE ezines & magazines
The former finance director of the Bannatyne Group, Christopher Watson, has been jailed after admitting to defrauding the company out of nearly £8m over a six-year period.
HAF,FIT,IND,PHR
992469_910570.jpg

News

Public Health England (PHE) and the Centre for Ageing Better (CAB) have set out their
Physical activity bodies ukactive and EuropeActive have agreed to strengthen their partnership in the event
The first-ever FIBO Southeast Asia fitness event will be held in Singapore next year. Taking
Cancer survivors should undertake a minimum of 90 minutes of aerobic and resistance training each
Thrive Global, the wellness and behaviour change tech firm founded by Arianna Huffington, has acquired
Regular exercise is highly beneficial for all patients with cardiovascular disease regardless of age. A
Royal Life Saving Society UK (RLSS)
Royal Life Saving Society UK (RLSS)
It’s been hailed as the answer to any number of ailments – heart disease, depression
LXA has inserted a 2,000sq ft (186sq m) indoor/outdoor boxing gym into a mixed-use building
The number of UK adults classed as physically active has increased by 1 million in
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The physical activity economy is now a US$828bn (€752bn, £655bn) market – and its value
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Les Mills
Les Mills
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Features
Talking point
Personal trainers play a key role in the gym environment, helping members to achieve their fitness goals. But are the current training models allowing them to do this in the best possible way? Or could they be doing more? We ask our panel of experts
Features
feature
New refurbishment featuring Technogym’s Biocircuit sees 27 per cent membership growth in the first six months at Macclesfield Leisure Centre
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Jak Phillips went to FIBO China and filed this report
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WE11 is a disruptive model and is going to cause mayhem in the industry: we’ve flipped the script and given the PTs a fair deal, instead of rinsing them
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We now have eight sites and offer retreats, such as a retreat in a Moroccan palace and a French chateaux-based yin yoga and writing retreat
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Because of our strong focus on community and inclusivity our members really do range from unemployed, and even homeless, to CEOs and board members of major institutions and celebrities
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Job search
POST YOUR JOB
Featured supplier news
Featured supplier: FunXtion makes fitness as integral to life as brushing your teeth
FunXtion delivers a complete, wrap-around exercise experience.
Featured supplier news
Featured supplier: The secrets to designing a stand-out fitness studio
The design and construction of a group fitness or exercise studio can have a big impact on the success of your gym.
Opinion
promotion
As an industry, we still underestimate the power of a truly varied fitness regime - and the growing appetite for it, especially among emerging customer segments.
Opinion: Collaboration vs aggregation - what’s the difference?
An ever-increasing number of Brits are engaging in sporting events, setting themselves goals and looking to increase their fitness levels....
Opinion: Dr Crionna Tobin on nutritional training for PTs and fitness experts
Video Gallery
Optimum Nutrition for Health and Performance.
Optimum Nutrition
Optimum Nutrition for Health and Performance is an Association for Nutrition (AfN) certified nutrition course & approved for CPD points from REPs and CIMSPA. Read more
More videos:
Company profiles
Company profile: DFC
DFC
At DFC, we offer totally transparent revenue management solutions with clear pricing and no hidden ...
Company profiles
Company profile: Technogym
Founded in 1983, Technogym is a world-leading international supplier of technology and design-driven products and ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Trade associations
International SPA Association - iSPA: Trade associations
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Locking solutions
Ojmar: Locking solutions
Direct debit solutions
Debit Finance Collections: Direct debit solutions
Management software
Fisikal: Management software
Lockers/interior design
Fitlockers: Lockers/interior design
Member access schemes
Move GB: Member access schemes
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Exercise equipment
Eleiko Sport AB: Exercise equipment
Skincare
Comfort Zone - Davines S.p.A: Skincare
Property & Tenders
Kirklees Active Leisure
Property & Tenders
Diary dates
28-30 Oct 2019
Hotel Royal Savoy, Lausanne, Switzerland
Diary dates
30-31 Oct 2019
NEC, Birmingham, United Kingdom
Diary dates
05-08 Nov 2019
Koelnmesse, Cologne, Germany
Diary dates
21-22 Nov 2019
JW Marriott Miami Turnberry Resort, Aventura,
Diary dates
29 Nov 2019
The King’s Fund, London, United Kingdom
Diary dates
29-30 Jan 2020
Holiday Inn San Francisco-Golden Gateway, San Francisco, United States
Diary dates
23-25 Mar 2020
Hilton, Barcelona, Spain
Diary dates
10-27 Jun 2020
tbc, Pinggu, China
Diary dates
17-18 Jun 2020
ExCeL London, London, United Kingdom
Diary dates
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