Virgin Active will take another two years to recover from Covid-19
Brait says recovery at its flagship investment has begun as sales improve
Brait says it will take at least another two years for its flagship Virgin Active health clubs to return pre-pandemic profitability, complicating the investment house’s plan to sell the business and trigger capital gains for long-suffering shareholders.
The company, which counts Ethos Capital as a significant shareholder, is pushing through a new growth plan aimed at creating value for shareholders through the sale of assets after a major organisational shake-up towards the end of 2019 aimed at rescuing the company from downward spiral after its entry into the UK coincided with economic uncertainty from Brexit. ..