Article: Duke Street dubs bid target Esporta `accident prone'

DUKE STREET Capital yesterday stepped up its attack on its bid target Esporta, labelling the health and fitness club operator "accident prone".

The venture capital company, which is embroiled in a pounds 133m hostile takeover battle for Esporta, spoke out at what it said was the fitness group's carelessness in losing five of its senior management team, including three executives, since it floated on the stock market just over two years ago.

Duke Street said a waiver of a banking covenant Esporta arranged with its lenders earlier this year has led to the payment of a waiver fee and resulted in higher interest charges on its debts. It also criticised Esporta for its two profit warnings in ...

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