Brait pumping iron to get Virgin Active ready for reopening
Brait owns nearly 80% of the gym group, which is preparing to restart operations in SA and the UK in the coming weeks
Investment holding company Brait says initial indications from countries where its Virgin Active gyms have reopened are promising as it prepares to restart operations in SA and the UK in the coming weeks.
Brait owns an effective 79% in Virgin Active, which accounts for almost half of its net asset value (NAV), implying that much of Brait’s recovery from the pandemic will hinge on its ability to get its customers back into gyms and working out. SA accounts for 38% of Virgin Active’s revenue...