The Gym Group eyes Toys R Us stores

The Gym Group is looking to muscle in on some of the shops left vacant by recent retail collapses such as Toys R Us, after reporting a second year of profits. The no-frills fitness chain has its sights set on the empty shops as it is planning further expansion in 2018, with up to 20 new gyms expected to be opened. It follows a year of “significant success” in 2017, according to the group, which revealed profits surging by a third to £9.2m and adding 21 new gyms, including 18 acquired from Lifestyle Fitness. Chief executive John Treharne said the group was set for another year of “substantial growth”, with the failure of high street names such as Toys R Us and Maplin offering further potential for expansion. Its revenues jumped 24.3 per cent to £91.4m, helping it achieve its second year in a row of annual profits. The group made its maiden full-year profit in 2016, having floated on the stock market the previous year.