Virgin Active drops a dumbbell on Brait
The investment holding company has reduced the value of the multinational gym chain amid a second wave of lockdowns
19 November 2020 - 09:54
The owner of SA’s largest gym and fitness chain is preparing for a long, hard slog until activity levels to return to 2019 levels in SA while its clubs in Europe endure a second wave of lockdowns.
Brait says 70% of clients at its gyms around the world have resumed their membership after the company voluntarily implemented a membership freeze during lockdown, while usage rates in SA — measured by the number of card swipes at gyms as members enter them — stand at about 60% of that before the pandemic. ..
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