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Jun 1

Fitness First trims the fat

Fitness Comments Off on Fitness First trims the fat

Trainer Lisa Brown and client Nicci McKewan working out at a Fitness First gym. Source: The Australian

FITNESS First will sell a quarter of its Australian outlets, including three of its five SA gyms, as its UK parent undergoes a major restructure.

Gyms at Holden Hill, Hindmarsh and Marion are all on the market, however members of these outlets will be given the option of remaining with the new owners or transferring their memberships to Fitness First outlets at Payneham or Adelaide.

Fitness First managing director Pete Manuel said the 24 clubs being sold across the country "do not fit our vision for the brand".

"All operators review their portfolios from time to time and this is overdue for Fitness First here in Australia," he said.

The company said protection of member and staff rights would be a condition of the sales.

Founded in the UK in 1993, Fitness First has more than 400 clubs worldwide - mostly in the UK, Australia and Germany - but has struggled in the face of low-cost competition and tight economic conditions in recent years.

In 2010, the Australian operations reported a fall in membership of 16,000 people - a drop of nearly five per cent.

A number of franchises, low-cost, 24-hour gym businesses have opened in Australia in the past five years, increasing the pressure on one-time market giant Fitness First.

Corporate advisers 333 Capital have been retained to find buyers for the Australian clubs.

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Fitness First trims the fat

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