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.   ..

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