Basic Fit starts to reopen clubs, announces new financing

Europe's largest and fastest growing fitness chain Basic-Fit has announced a new timeline of opening up its clubs as governments eases COVID-19 related lockdowns.

In Luxembourg the fitness company says it we will reopen clubs on 29 May. In June it would open the clubs in France and Spain while the Netherlands unit would be opened on 1 July.

The company says it has for the past weeks been preparing its clubs to reopen in compliance with the government requirements and to make sure its employees can work, and its members can exercise in a safe and comfortable way.

With an online reservation system, it is able to manage the flow and number of people to the clubs at any given time. Through signage and clear communications members can safely move around in the clubs whilst keeping the required distance between each other. Members have been guaranteed of high standard cleaning protocols and ample availability of cleaning stations in the club so people can clean their equipment before and after their workout. In addition, Basic Fit has optimized the ventilation in the clubs to make sure that there is no recirculation of air and the inflow of fresh air is well above the expected recommended levels.

Basic Fit lauded the support extended by its members during lockdown with majority of them being active by following the online group classes. The company expressed optimism that it was looking forward to seeing the over 2 million members back in to the clubs and expecting a majority of them to resume using their membership within the first few weeks.

The company has also announced the completion of the process of obtaining an additional €60 million bank facility as preannounced on 22 April. The three-year GO-C facility will be repaid quarterly in a straight line in two years, after an initial one-year grace period. This facility is meant to help the company absorb the liquidity impact of the COVID-19 related government measures.

www.basic-fit.com