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Humphrey Cobbold tells BBC Question Time about the impact of coronavirus on Pure Gym
POSTED 27 Mar 2020 . BY Liz Terry
Humphrey Cobbold, CEO of Pure Gym, discusses the coronavirus shutdown on BBC Question Time, 26 March 2020 Credit: Liz Terry/BBC Question Time
Humphrey Cobbold, CEO of Pure Gym, appeared on BBC Question Time last night (26 March 2020), along with Richard Horton, editor-in-chief of The Lancet, Emily Thornberry, shadow foreign secretary and Robert Jenrick, housing, communities and local government secretary.

The ‘audience’ was beamed in via video conferencing to ask questions and the panel observed social distancing, with a reduced number of panellists to reflect this.

Cobbold, who closed Pure Gym’s 265 sites on Friday 20th told Question Time this had only taken 10 hours, saying: “A business that took us 10 years to build only took 10 hours to close down.”

He praised his staff for their swift response, saying: “I’ve got a tremendous amount of respect for all my colleagues across our business and other businesses that experienced the same situation.

“We had to close in the national interest – we knew it would happen at some stage.

“To have young people close down their place of work and essentially put themselves into jeopardy for the future is a very challenging thing for them to have done,” he said.

Cobbold explained his concern for the fate of the 3,000 plus self-employed personal trainers who were working at Pure Gym at the time of the closure, but said the chancellor’s support package for the self-employed was very welcome: “I was very pleased to see the steps the Chancellor took this evening in terms of putting together a package for self-employed people."

He hinted this may still leave some vulnerable, however, saying: “It’s a very complex situation – the average tenure of the personal trainers who work in our gyms is typically eight or nine months, so many of them won’t have the trading history needed in order to claim.

“Many of them are also recently qualified and new to the game of being self-employed as well and so they might not be familiar with many of the features that are required [to make a claim under the new scheme].”

Cobbold explained Pure Gym will be assisting its personal trainers with their applications for government support in every way possible, saying: “We’ll be supporting and helping them with the interpretation of the package the chancellor has put together and I’m heartened to hear [from Robert Jenrick] that there will be attention paid to people who may not have the perfect trading history.”

He took a definite position in defining the relationship between personal trainers and the business, saying: “We’ll be looking to do our part for them as much as we can, as the operator of the environment in which they earned their living previously.

“We’re absolutely committed to trying to help them in every way we can, as part of our overall ecosystem as a business.”

Cobbold had been critical of the government’s financial approach to the crisis in the week leading up to the closure, saying: “[Pure Gym] is too large for the new smaller companies’ scheme, but to qualify for the larger company scheme businesses have to have an investment rating.

"We're actually caught in the middle between both schemes. They're not really open to us," he told the BBC on 23 March.

“We burn £9m-£10m a week, so we have quite a task to drive down that burn rate, so we can make our cash and liquidity last as long as possible.”
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  FEATURE: Special report: First response


CEOs Humphrey Cobbold, of Pure Gym and Clive Ormerod of Les Mills talk about their initial response to COVID-19
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  Pure Gym plans further expansion following double-digit growth


Budget operator Pure Gym achieved double digit growth in revenue and profitability during 2018, cementing its position as the UK's largest gym chain.
  Gym Group and PwC report shows number of low-cost gyms could double by 2026


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NEWS
Humphrey Cobbold tells BBC Question Time about the impact of coronavirus on Pure Gym
POSTED 27 Mar 2020 . BY Liz Terry
Humphrey Cobbold, CEO of Pure Gym, discusses the coronavirus shutdown on BBC Question Time, 26 March 2020 Credit: Liz Terry/BBC Question Time
Humphrey Cobbold, CEO of Pure Gym, appeared on BBC Question Time last night (26 March 2020), along with Richard Horton, editor-in-chief of The Lancet, Emily Thornberry, shadow foreign secretary and Robert Jenrick, housing, communities and local government secretary.

The ‘audience’ was beamed in via video conferencing to ask questions and the panel observed social distancing, with a reduced number of panellists to reflect this.

Cobbold, who closed Pure Gym’s 265 sites on Friday 20th told Question Time this had only taken 10 hours, saying: “A business that took us 10 years to build only took 10 hours to close down.”

He praised his staff for their swift response, saying: “I’ve got a tremendous amount of respect for all my colleagues across our business and other businesses that experienced the same situation.

“We had to close in the national interest – we knew it would happen at some stage.

“To have young people close down their place of work and essentially put themselves into jeopardy for the future is a very challenging thing for them to have done,” he said.

Cobbold explained his concern for the fate of the 3,000 plus self-employed personal trainers who were working at Pure Gym at the time of the closure, but said the chancellor’s support package for the self-employed was very welcome: “I was very pleased to see the steps the Chancellor took this evening in terms of putting together a package for self-employed people."

He hinted this may still leave some vulnerable, however, saying: “It’s a very complex situation – the average tenure of the personal trainers who work in our gyms is typically eight or nine months, so many of them won’t have the trading history needed in order to claim.

“Many of them are also recently qualified and new to the game of being self-employed as well and so they might not be familiar with many of the features that are required [to make a claim under the new scheme].”

Cobbold explained Pure Gym will be assisting its personal trainers with their applications for government support in every way possible, saying: “We’ll be supporting and helping them with the interpretation of the package the chancellor has put together and I’m heartened to hear [from Robert Jenrick] that there will be attention paid to people who may not have the perfect trading history.”

He took a definite position in defining the relationship between personal trainers and the business, saying: “We’ll be looking to do our part for them as much as we can, as the operator of the environment in which they earned their living previously.

“We’re absolutely committed to trying to help them in every way we can, as part of our overall ecosystem as a business.”

Cobbold had been critical of the government’s financial approach to the crisis in the week leading up to the closure, saying: “[Pure Gym] is too large for the new smaller companies’ scheme, but to qualify for the larger company scheme businesses have to have an investment rating.

"We're actually caught in the middle between both schemes. They're not really open to us," he told the BBC on 23 March.

“We burn £9m-£10m a week, so we have quite a task to drive down that burn rate, so we can make our cash and liquidity last as long as possible.”
RELATED STORIES
FEATURE: Special report: First response


CEOs Humphrey Cobbold, of Pure Gym and Clive Ormerod of Les Mills talk about their initial response to COVID-19
FEATURE: Ask the experts: European growth


How big could the European health and fitness industry grow? What models will have the biggest impact? We ask those who have the most up-to-date research
Pure Gym plans further expansion following double-digit growth


Budget operator Pure Gym achieved double digit growth in revenue and profitability during 2018, cementing its position as the UK's largest gym chain.
Gym Group and PwC report shows number of low-cost gyms could double by 2026


The Gym Group has tackled investor chatter about stagnation in market penetration by collaborating with PricewaterhouseCoopers (PWC) to release an independent report showing the number of low-cost gyms could double by 2026 to between 1200 and 1400 locations.
MORE NEWS
Missed FIBO? Catch up with the HCM roundup
The HCM team were busy at the recent FIBO Global Fitness event in Cologne, Germany, distributing a special FIBO edition of HCM in support of the event as its global media partner.
Andy King launches The Conveners podcast to champion the pivot to wellbeing
The fitness sector’s pivot to active wellbeing is being discussed in a new weekly podcast, called The Conveners, and hosted by chair of GM Active and director of Miova, Andy King with industry veteran, John Oxley, as a guest presenter.
Basic-Fit trials corporate wellness drive across its Spanish clubs
Basic-Fit has signed up to trial the Wellhub network across its recently expanded Spanish network, giving access to subscribers and enabling them to use all 152 of its Spanish clubs.
Go Fit CEO, Mário Barbosa, unveils expansion plans in this month’s HCM
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Sibec EMEA to blend fitness with luxury at Fairmont Monte Carlo
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+ More profiles  
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+ More catalogues  

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+ More directory  
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21-21 Apr 2024

Below the Belt Melbourne Pedalthon

Sandown Racecourse , Springvale , Australia
22-24 Apr 2024

UK Aufguss Championships

Galgorm Resort, York,
+ More diary  
 


ADVERTISE . CONTACT US

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Tel: +44 (0)1462 431385

©Cybertrek 2024

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