Gym chain LeisureCo collapses into administration

Health club and sports facilities operator LeisureCo has entered voluntary administration, with Pitcher Partners partner Michael Basedow appointed as the company's administrator.

 

Basedow was appointed voluntary administrator effective yesterday, July 7, and will assess the health of each of LeisureCo's centres in Australia.

LeisureCo currently has over 500 staff and operates eight centres in Australia, while one centre in East Gardens, Sydney, closed yesterday, July 7, 2009.

It has operated for over 25 years, and operates sports facilities, function centres, gyms, fitness studios, gymnastics stadiums, dance studios and swimming schools.

The company will continue to trade while undergoing the administration process.

Fernwood founder Diana Williams recently told SmartCompany that many gyms and health clubs have struggled during the downturn.

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