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Glenn Earlam pushes back on reports of 'material uncertainty' at David Lloyd
POSTED 04 Jan 2021 . BY Tom Walker
David Lloyd Clubs has been innovative in its response to the pandemic Credit: David Lloyd Clubs
We expect post-pandemic trading to be strong and are optimistic we can restart our ambitious investment programme soon after our business begins to trade as normal
– Glenn Earlam
David Lloyd Leisure has become the latest operator to have its auditors flag up the detrimental effect of the pandemic on the business.

In its annual accounts, Deloitte has said the uncertainties surrounding government-ordered closures could cast "significant doubt" on the group and its future.

The comments come just days after rival operator Virgin Active signalled its intention to raise cash to buffer it from the impact of the pandemic.

However, speaking to HCM, DLL CEO, Glenn Earlam, said a significant number of leisure businesses have had to declare 'material uncertainty' in their accounts, due to the pandemic.

He said DLL was in "very good shape prior to the lockdown" and would return to a similar position, once the current club closures come to an end.

"Our business was growing aggressively before the global pandemic, but the crisis has brought uncertainty across the whole of the leisure sector, and we need an escalated vaccine rollout, so the industry can reopen its doors as soon as possible," Earlam said.

"As the nation is now prioritising its health and fitness, we expect post-pandemic trading to be strong, and are optimistic we can restart our ambitious investment programme soon after our business begins to trade as normal."

DLL's banks are not due to renew their lending agreements until next year, giving the operator time to rebuild its income streams once the vaccine has been implemented and clubs reopened.

David Lloyd is one of Europe’s largest premium operators, with 124 clubs – 100 in the UK and a further 24 across Europe. The clubs are managed under its two brands, David Lloyd Clubs and Harbour Clubs.

The company has been creative in tackling the pandemic emergency, being the first national operator to reopen for tennis and then outdoor workouts and one of the first to launch a hybrid offering. Earlam has also been very active in lobbying for the sector.

David Lloyd has also just launched a timely new initiative called Team PB, to help people counter the negative effects of lockdowns.
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Jobs   News   Products   Magazine
NEWS
Glenn Earlam pushes back on reports of 'material uncertainty' at David Lloyd
POSTED 04 Jan 2021 . BY Tom Walker
David Lloyd Clubs has been innovative in its response to the pandemic Credit: David Lloyd Clubs
We expect post-pandemic trading to be strong and are optimistic we can restart our ambitious investment programme soon after our business begins to trade as normal
– Glenn Earlam
David Lloyd Leisure has become the latest operator to have its auditors flag up the detrimental effect of the pandemic on the business.

In its annual accounts, Deloitte has said the uncertainties surrounding government-ordered closures could cast "significant doubt" on the group and its future.

The comments come just days after rival operator Virgin Active signalled its intention to raise cash to buffer it from the impact of the pandemic.

However, speaking to HCM, DLL CEO, Glenn Earlam, said a significant number of leisure businesses have had to declare 'material uncertainty' in their accounts, due to the pandemic.

He said DLL was in "very good shape prior to the lockdown" and would return to a similar position, once the current club closures come to an end.

"Our business was growing aggressively before the global pandemic, but the crisis has brought uncertainty across the whole of the leisure sector, and we need an escalated vaccine rollout, so the industry can reopen its doors as soon as possible," Earlam said.

"As the nation is now prioritising its health and fitness, we expect post-pandemic trading to be strong, and are optimistic we can restart our ambitious investment programme soon after our business begins to trade as normal."

DLL's banks are not due to renew their lending agreements until next year, giving the operator time to rebuild its income streams once the vaccine has been implemented and clubs reopened.

David Lloyd is one of Europe’s largest premium operators, with 124 clubs – 100 in the UK and a further 24 across Europe. The clubs are managed under its two brands, David Lloyd Clubs and Harbour Clubs.

The company has been creative in tackling the pandemic emergency, being the first national operator to reopen for tennis and then outdoor workouts and one of the first to launch a hybrid offering. Earlam has also been very active in lobbying for the sector.

David Lloyd has also just launched a timely new initiative called Team PB, to help people counter the negative effects of lockdowns.
RELATED STORIES
David Lloyd Clubs launches 'Team PB' programme to tackle negative effects of lockdowns


David Lloyd Clubs will develop a new programme in January 2021, designed to help people overcome the negative effects – both physical and mental – of the coronavirus lockdowns.
Virgin Active seeking cash injection to ride out the pandemic


Virgin Active has become the latest big-box operator to signal its intention to raise cash to buffer it from the impact of the pandemic.
David Lloyd Leisure launches outdoor classes and reveals enhanced Battlebox concept


David Lloyd Leisure (DLL) has reopened 50 of its clubs for socially distanced outdoor exercise.
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Gymbox moves into the hotel market with citizenM deal
Gymbox has entered the hospitality space with the signing of a deal to deliver in-room exercise sessions to guests staying at citizenM hotels around the world.
Nuffield Health launches free emotional wellbeing classes online
Parliamentary Petition calls for gyms to reopen first after lockdown
HCM editor, Liz Terry, has launched a Parliamentary Petition calling for gyms to be in the first wave of reopenings after the lockdown and for the government to fund a 'Work Out to Help Out' scheme.
Research finds resistance training benefits older women as much as older men
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Funxtion collaborates with global experts on white paper exploring digital in the future of fitness
In collaboration with ukactive, FunXtion has driven a global discussion with some of the world’s leading fitness operators and influencers, exploring how digitalisation will influence the delivery of fitness services and products moving forwards. [more...]
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DFC

Our flexible fully managed service efficiently collects Direct Debit payments using traditional pa [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

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MyZone Group Ltd - A new Zone is here
A new zone is here for your club, for your members and for you. Find out more...
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DIRECTORY
+ More directory  
DIARY

 

22 Jan 2021

Spa Leadership Symposium

Online (Zoom),
02-04 Feb 2021

Beauty West Africa

Landmark Centre, Lagos, Nigeria
+ More diary  
 


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Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2021

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