Wednesday, July 11, 2018

News: Rotherham gym bought out of administration

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A prosperous future is expected for the i-Motion Gym in Rotherham after a deal for the operating company was secured.

Rothbiz reported last month that Sarah Bell and Steven Muncaster of Duff & Phelps were appointed joint administrators of i-Motion Gym Ltd after the firm struggled in the challenging environment for low cost gym operators.

Gyms in Rotherham and Stafford continued to trade as the adminstrators led a sale transaction and administration process which has resulted in the business and assets being purchased by I-Motion Fitness Limited.

The newly-created company is backed by Access Commercial Finance and the deal, which completed on July 6, also had the support of the landlords.

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Sarah Bell of Duff & Phelps, said: "We're pleased to announce the sale of i-Motion Gym Ltd, preserving the jobs of 35 employees and ensuring stability for the members across both sites. We’re especially pleased about this against the current difficult industry backdrop of rising rents and business rates, and increasingly competitive pricing strategies in the fitness area. Following the sale, we expect a prosperous future for both gyms."

£1.2m was invested in the refurbishment of the former 15,500 sq ft Energie gym on Stoddard Way in Parkgate in 2013. A 21,000 sq ft gym opened at the Guildhall Shopping Centre in Stafford opened in 2016.

Offering affordable, value for money gyms with no contract memberships, the firm has circa 4,100 members across the two sites. Both locations provide a range of modern matrix equipment and instructor-led fitness classes.

i-Motion Gym website

Images: i-Motion

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