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Floors 4 Gyms / TVS Sports Surfaces
Floors 4 Gyms / TVS Sports Surfaces
Floors 4 Gyms / TVS Sports Surfaces
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UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

PureGym expects European operations to reopen before UK – says it has 12 months of liquidity

PureGym expects lockdowns to last "until at least 31 March" – and that it will be reopening its Danish and Swiss operations before the UK.

Offering its bondholders an interim update, the gym chain said all of its operations remain closed and that it had £236m available liquidity at the end of December 2020.

As its targeted total cash burn across the group stands at £4.5m per week, PureGym said this equated to around 12 months of liquidity.

It also revealed that its weekly operational cash burn was £1m better than during "Lockdown 1" in early 2020.

"This is a result of learnings from the original lockdown, allowing faster implementation of operational savings, alongside a more flexible furlough scheme," PureGym said in the statement.

Despite the continued financial pressures caused by the pandemic, the group said the outlook remains positive, as there is "underlying resilience of demand" in all three geographies it operates.

It currently operates 500 gyms and has around 1.7 million members under the PureGym brand in the UK, Basefit in Switzerland and Fitness World in Denmark.

In August 2020 the company revealed that its Danish and Swiss clubs returned to pre-COVID-19 profit levels in the first month of trading after reopening.

"The ability to rebuild the business quickly once gyms are reopened is clear," PureGym said in the update, published this week (15 February), adding that the inevitable closures of some competing gyms will create opportunities for those left standing.

"We expect supply to leave the market, creating further opportunities and medium to long-term outlook remains very positive," the company said.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
PureGym expects lockdowns to last "until at least 31 March" – and that it will be reopening its Danish and Swiss operations before the UK.
PTS,HAF,FIT,IND
2021/THUMB347160_812268_494476.jpg
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News

PureGym expects European operations to reopen before UK – says it has 12 months of liquidity

PureGym expects lockdowns to last "until at least 31 March" – and that it will be reopening its Danish and Swiss operations before the UK.

Offering its bondholders an interim update, the gym chain said all of its operations remain closed and that it had £236m available liquidity at the end of December 2020.

As its targeted total cash burn across the group stands at £4.5m per week, PureGym said this equated to around 12 months of liquidity.

It also revealed that its weekly operational cash burn was £1m better than during "Lockdown 1" in early 2020.

"This is a result of learnings from the original lockdown, allowing faster implementation of operational savings, alongside a more flexible furlough scheme," PureGym said in the statement.

Despite the continued financial pressures caused by the pandemic, the group said the outlook remains positive, as there is "underlying resilience of demand" in all three geographies it operates.

It currently operates 500 gyms and has around 1.7 million members under the PureGym brand in the UK, Basefit in Switzerland and Fitness World in Denmark.

In August 2020 the company revealed that its Danish and Swiss clubs returned to pre-COVID-19 profit levels in the first month of trading after reopening.

"The ability to rebuild the business quickly once gyms are reopened is clear," PureGym said in the update, published this week (15 February), adding that the inevitable closures of some competing gyms will create opportunities for those left standing.

"We expect supply to leave the market, creating further opportunities and medium to long-term outlook remains very positive," the company said.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
PureGym expects lockdowns to last "until at least 31 March" – and that it will be reopening its Danish and Swiss operations before the UK.
PTS,HAF,FIT,IND
2021/THUMB347160_812268_494476.jpg

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An October 2020 IHRSA report found 95% of members miss at least one aspect of their club and more than half are dissatisfied with their lockdown fitness routines
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Supplier showcase
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HCM Magazine
Sponsored
The University of Stirling has transformed its fitness offering with world-class performance sport and fitness facilities powered by Technogym
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In spite of having met all government-agreed, COVID-secure operating standards, group exercise has had a rough ride during the pandemic, being closed more than gyms. HCM asks why this is and what can be done about it
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Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
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Featured supplier news
Featured supplier: Core Health & Fitness announces partnership with Énergie Fitness Iberia
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Company profiles
Company profile: fibodo Limited
fibodo is the digital solution helping people lead healthier and happier lives. From grassroots individual ...
Company profiles
Company profile: Matrix Fitness
Matrix provides innovative commercial fitness equipment to facilities in all market sectors including private health ...
Supplier Showcases
Supplier showcase - Venueserve Fitness
Catalogue Gallery
Click on a catalogue to view it online
Directory
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Spa software
SpaBooker: Spa software
Management software
fibodo Limited: Management software
Architects/designers
Zynk Design Consultants: Architects/designers
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Skincare
Sothys: Skincare
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Wearable technology solutions
MyZone: Wearable technology solutions
Red Light Therapy
 Red Light Rising: Red Light Therapy
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Property & Tenders
Hillingdon
Hillingdon Borough Council
Property & Tenders
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
01-04 Jul 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
04-07 Nov 2021
Exhibition Centre , Cologne, Germany
Diary dates
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Floors 4 Gyms / TVS Sports Surfaces
Floors 4 Gyms / TVS Sports Surfaces