UK gym chain LA fitness has announced it’s selling 33 of its 80 clubs as part of a restructuring plan to reduce its debt burden.
By slimming down its portfolio, the group hope to secure its long-term future.
Chief executive Martin Long said:
It is a structural issue that is hampering LA fitness and it is through this process that we will create a leaner, more operationally efficient business, with a long-term, sustainable future as one of the UK's leading health and fitness operators.
LA fitness has 25 clubs in London. In the statement today, it said the proposals will have no immediate impact for employees or members.