Reebok gym in trouble
One of Europe's largest gyms, backed by big-name brand Reebok International and run by former New York Mets baseball player Tom Henner, has been placed in administration by its directors.
Link Insolvency rule faces final whistle
Sportsplex, the Canary Wharf-based health and fitness club that traded as the Reebok sports club, went into administration last week after hitting financial difficulties.
Baker Tilly partners Geoff Carton-Kelly and Colin Haig were appointed administrators to the 100,000 square foot state-of-the-art health club, which opened in November 2002. Carton-Kelly said: ‘Our team is working with company stakeholders to deliver a solution that’s beneficial to all parties and maintains the club as Europe’s premier sports and fitness centre.’
He added that the administrators would continue trading and attempt to sell the company as a going concern.
Sources close to the company revealed that the directors placed it in administration because of the shortfall in membership, and as a protective measure to preserve the business.
But the administrators said they were unable to confirm how the company had got into such dire straits.
Reebok said the administration would allow the club to serve existing members while ‘Sportsflex restructures its financial affairs’.