Newspaper article The Journal (Newcastle, England)

Gym Group Looking Healthy, Ponders Europe

Newspaper article The Journal (Newcastle, England)

Gym Group Looking Healthy, Ponders Europe

Article excerpt

GYM and health club chain The Bannatyne Group has revealed it could rekindle plans for a stock market flotation within the next few years as it limbers up for expansion into Europe.

Chief executive Justin Musgrove said an initial public offering (IPO) remains on the table for the Darlington firm, which is owned by Dragons' Den star Duncan Bannatyne.

The chain had planned to raise PS300m by floating in 2016, but later pulled the plug on the IPO amid tumultuous market conditions sparked by the shock Brexit vote.

Mr Musgrove said while an IPO was not an immediate priority, he "can't rule it out" as an option over the next three or four years.

He said: "Duncan has always said it remains an opportunity for us."

"We have got some work to do and still have a lot of acquisitions to complete, but it's very much an option that remains open," he added.

In the meantime, the 71-strong chain is focusing on expanding further across the UK under aims to have around 100 clubs nationwide. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.