Peter Hayward-Butt says Covid put a spanner in the sale of Brait's Virgin Active chains
Peter Hayward-Butt says Covid put a spanner in the sale of Brait's Virgin Active chains.
The sale of Brait SE’s Virgin Active fitness chain will be delayed by up to 18 months following closure of gyms to help contain Covid-19.
Brait had announced the sale of its assets in November as part of an overhaul. But, according to Brait manager Peter Hayward-Butt, Covid-19 put a spanner in the works. “Membership fees were frozen during the lockdown that started in March and it’s going to take some time to get back to where it was.”
However, Brait isn’t in a rush to sell the gym chain as the recent divestment of its stake in Iceland Foods and DGB have “stabilised the base” and helped pay down debt.