Énergie Fitness has work to do

Fri, Aug 1, 2014, 02:15

Prime Fitness, the company behind the 10-strong chain of énergie Fitness gyms (the ones with the Big Scary Gym TV ads), was also among those that trudged to the CRO this month to file accounts.

Its figures could do with being whipped into shape. According to the accounts, Prime Fitness increased its losses by €2.7 million last year to an accumulated €14.6 million. The company owes €10 million to its parent, Abbey International Finance.

It also owes more than €3 million to Ulster Bank and the accounts state that it breached its banking covenants last year.

Don’t sweat it (any more than usual) if you’re a member, however, as the terms of the loan were renegotiated and all is well.

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