Get HCM digital magazine and ezines FREE
Sign up here ▸
Jobs   News   Features   Products   Magazine      Advertise  
NEWS
Martin Long, CEO of DW Fitness First, says cash crisis is looming
POSTED 08 Apr 2020 . BY Liz Terry
Martin Long: a cash crisis is looming
Martin Long, CEO of DW Fitness First, has called on the government to speed up the payment of furlough support.

Long told the BBC that the business normally turns over £15m a month, but that this has fallen to zero, leaving no cash to fund the company's £3m wage bill in April. “The money isn’t coming in quickly enough,” he said.

Most of DW Fitness First's 3,000 staff have been furloughed, but Long says the government’s coronavirus job retention scheme won’t be set up in time to help.

The operator has an estate of 120 gyms across the UK. All are currently closed.

“Ultimately, you’ve got to run a business with no income and no knowledge of when the income is coming, because you don't know when you're going to reopen,” said Long.

“And even when you do reopen, it's likely you'll have fewer members.”

DW Fitness First had revealed plans to become "UK’s largest sports participation brand," integrating its retail and health club operations to create a seamless consumer service.

UKActive has said difficulties getting loans and delays in accessing the government’s coronavirus job retention scheme could mean more than a third of UK gyms and leisure centres collapse.

“We're just weeks away from the closure of up to 2,800 fitness and leisure facilities, which play a crucial role in supporting the health and wellbeing of our communities,” said CEO, Huw Edwards.

That would threaten 100,000 jobs in a sector worth £7.7bn a year to the UK economy.

UKActive said some gym and leisure centre operators may only survive another five weeks as rent bills continue to mount.

“If our leisure facilities are lost, it will be incredibly difficult to rebuild them and any recovery will be extremely slow and painful,” said Edwards.

RELATED STORIES
  Loophole leaves gyms open to legal action by landlords


The legislation intended to protect commercial tenants from eviction during the coronavirus (COVID- 19) pandemic has a loophole, which could see hundreds of gyms and leisure centres being hit with legal action by their landlords.
  Channel 4 comedian Rosie Jones mystery shopped gyms for accessibility – guess which operator passed the test


Comedian Rosie Jones has found that just one of the three gyms she tried to train at, for a Channel 4 consumer rights programme, offered adequate accessibility and/or facilities for disabled users.
MORE NEWS
Treningshelse Holding snaps up another Norwegian fitness chain as it sets its sight on market leadership
Norwegian health club operator, Treningshelse Holding, which owns the Aktiv365 and Family Sports Club fitness chains, has acquired fellow Norwegian operator, Aktiv Trening.
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.
Xplor kicks off international expansion for its Mariana Tek software with 1Rebel deal
Atlanta-based boutique fitness software company, Xplor Mariana Tek, has kicked off a push for international expansion.
US named world’s largest wellness economy, reaching US$1.8 trillion valuation
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion.
+ More news   

FEATURED SUPPLIERS

Sibec EMEA to blend fitness with luxury at Fairmont Monte Carlo
Experience the pinnacle of fitness and luxury at the premier industry event, Sibec EMEA, set against the breathtaking backdrop of the Fairmont Monte Carlo this Autumn. [more...]

Webinar: Building a new energy future for the leisure sector
As one of the most energy-intensive industries in the UK, leisure facilities face a critical challenge in balancing net zero goals, funding and increased costs. [more...]
+ More featured suppliers  
COMPANY PROFILES
Orbit4

Orbit4 is the ultimate software solution for operators to manage their fitness facility. [more...]
ukactive

ukactive is the UK’s leading not-for-profit membership body for the physical activity sector, bringi [more...]
+ More profiles  
CATALOGUE GALLERY
 
+ More catalogues  

DIRECTORY
+ More directory  
DIARY

 

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  
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
HCM
LEISURE OPPORTUNITIES
HEALTH CLUB HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024
Get HCM digital magazine and ezines FREE
Sign up here ▸
Jobs    News   Products   Magazine
NEWS
Martin Long, CEO of DW Fitness First, says cash crisis is looming
POSTED 08 Apr 2020 . BY Liz Terry
Martin Long: a cash crisis is looming
Martin Long, CEO of DW Fitness First, has called on the government to speed up the payment of furlough support.

Long told the BBC that the business normally turns over £15m a month, but that this has fallen to zero, leaving no cash to fund the company's £3m wage bill in April. “The money isn’t coming in quickly enough,” he said.

Most of DW Fitness First's 3,000 staff have been furloughed, but Long says the government’s coronavirus job retention scheme won’t be set up in time to help.

The operator has an estate of 120 gyms across the UK. All are currently closed.

“Ultimately, you’ve got to run a business with no income and no knowledge of when the income is coming, because you don't know when you're going to reopen,” said Long.

“And even when you do reopen, it's likely you'll have fewer members.”

DW Fitness First had revealed plans to become "UK’s largest sports participation brand," integrating its retail and health club operations to create a seamless consumer service.

UKActive has said difficulties getting loans and delays in accessing the government’s coronavirus job retention scheme could mean more than a third of UK gyms and leisure centres collapse.

“We're just weeks away from the closure of up to 2,800 fitness and leisure facilities, which play a crucial role in supporting the health and wellbeing of our communities,” said CEO, Huw Edwards.

That would threaten 100,000 jobs in a sector worth £7.7bn a year to the UK economy.

UKActive said some gym and leisure centre operators may only survive another five weeks as rent bills continue to mount.

“If our leisure facilities are lost, it will be incredibly difficult to rebuild them and any recovery will be extremely slow and painful,” said Edwards.

RELATED STORIES
Loophole leaves gyms open to legal action by landlords


The legislation intended to protect commercial tenants from eviction during the coronavirus (COVID- 19) pandemic has a loophole, which could see hundreds of gyms and leisure centres being hit with legal action by their landlords.
Channel 4 comedian Rosie Jones mystery shopped gyms for accessibility – guess which operator passed the test


Comedian Rosie Jones has found that just one of the three gyms she tried to train at, for a Channel 4 consumer rights programme, offered adequate accessibility and/or facilities for disabled users.
MORE NEWS
Treningshelse Holding snaps up another Norwegian fitness chain as it sets its sight on market leadership
Norwegian health club operator, Treningshelse Holding, which owns the Aktiv365 and Family Sports Club fitness chains, has acquired fellow Norwegian operator, Aktiv Trening.
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.
Xplor kicks off international expansion for its Mariana Tek software with 1Rebel deal
Atlanta-based boutique fitness software company, Xplor Mariana Tek, has kicked off a push for international expansion.
US named world’s largest wellness economy, reaching US$1.8 trillion valuation
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion.
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.
+ More news   
 
FEATURED SUPPLIERS

Sibec EMEA to blend fitness with luxury at Fairmont Monte Carlo
Experience the pinnacle of fitness and luxury at the premier industry event, Sibec EMEA, set against the breathtaking backdrop of the Fairmont Monte Carlo this Autumn. [more...]

Webinar: Building a new energy future for the leisure sector
As one of the most energy-intensive industries in the UK, leisure facilities face a critical challenge in balancing net zero goals, funding and increased costs. [more...]
+ More featured suppliers  
COMPANY PROFILES
Orbit4

Orbit4 is the ultimate software solution for operators to manage their fitness facility. [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

DIRECTORY
+ More directory  
DIARY

 

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

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS