Budget gyms bulk up

BUDGET fitness club The Gym Group is looking to open outlets in empty shops left by struggling retailers such as House of Fraser.

It has already opened gyms in a former BHS store and buildings owned by Sainsbury’s. The Gym Group has almost 150 gyms in the UK, and 720,000 members. It plans to open 15 to 20 new sites this year, with ambitions for 200 locations by 2020.

Profits plunged 14pc to £5.1m in the six months to June 30 after it was hit by £1m in exceptional charges following the purchase of 13 sites from easyGym. Revenue surged 36pc to £58.3m.