Jackie Skelly Fitness sold for €2.2m

Energie Group, the British fitness chain, is paying an initial €2.2 million to take control of Jackie Skelly Fitness, the Irish gym chain that is in examinership, writes Ian Kehoe.

15th May, 2010

The British company is making a cash injection of around €1 million to finance a payout to creditors, while also putting in a further €1.3 million to reduce the company’s bank debts.

Energie Group has also promised to make funds available for the company’s working capital for the next 12 months.

The deal was agreed with creditors last week, and will now go to the High Court for approval.

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