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Gym Group Gets New GBP70 Million Loan; Opens First Smaller Format Gym

Tue, 3rd Dec 2019 12:15

(Alliance News) - Gym Group PLC on Tuesday said it has entered into a GBP70 million four-year revolving credit facility with HSBC, Natwest and Banco de Sabadell.

The facility replaces the company's existing GBP60 million facilities "on improved terms and will provide flexibility to execute the company's strategy."

The gym operator also said that it has opened its first first small box gym in Newark. The company expects to open five to eight of small box gyms in 2020 in addition to standard format locations.

Shares in Croydon-based Gym Group were down 2.5% at 259.00 pence on Tuesday in London.

By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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