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Article: Money-Go-Round: LA Fitness for a quick sprint The Questor Column
- Article from:
- The Sunday Telegraph London
- Article date:
- December 18, 1999
- Author:
CopyrightCopyright 1999 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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LA Fitness is jogging ahead without working up much of a sweat.
The company floated in October to fund an expansion plan which
should see its outlets double from 16 clubs to 32 by July 2001. This
is not as ambitious as it sounds, not least because the pounds 14m
raised by the float should cover LA Fitness' pounds 7m debt and
leave it debt-free by the end of 2000.
LA Fitness has benefited from being a late starter in a booming
market. It had a good look at the competition and decided to wedge
itself firmly in the "value for money" slot, a sector which is about
five years away from running out of breath. The only rival to LA
Fitness at this end of the market is Fitness First.
LA Fitness clubs ...