“There is no question that we, like the entire industry, are in a challenging time where our clubs have had to remain closed for more than nine of the last 18 months. I am all the more pleased that we were able to reopen our studios mid of June – including the first Barry’s in Germany/Frankfurt – and that we were able to use the time as effectively as possible to re-start with leaner processes, more digitization and much lower cost base.” comments Martin Seibold, CEO of the LifeFit Group.

“We have been taking transparent and decisive actions in support of our staff and members and have introduced cash preserving activities to mitigate the economic impact. In addition, we are utilising state related economic relief programs and with our strong cash position we are in a good position to weather this storm and be ready for developing opportunities. Health & fitness in general and strengthening of the immune system is probably more important than ever which we anticipate will drive more people into gyms over time.”

Source: LifeFit Group
Picture: Fitness First Germany