Last month I wrote about the impending sale of JJB’s 50 health and fitness clubs. Several bidders had come forward and there were indications that the business would be sold for around £1 million per club.
Bids fail to meet expectations
Indications are that the price could now be falling to around £820,000 per club, totalling £41 million for the entire club portfolio.
This is a critical transaction for JJB, as it negotiates with banks to reduce its borrowings. One outcome seems clear; the eventual buyer will be acquiring some lovely clubs for a good price…but hurry, the sale ends soon!
Tags: Mergers and Acquisitions