The Covid-19 pandemic has put many businesses in trouble, one recent brand to announce difficulties is Dutch gym chain, Basic-Fit.
Basic-Fit has had to take out a loan of €150 million in order to ensure they have enough liquidity to get through the rest of the crisis brought on by the coronavirus pandemic. Because of restrictions, Basic-Fit has had to close all its gyms in the Netherlands, Belgium and France, meaning that out of the company’s total 905 clubs, 805 are shut, whilst only 54 gyms in Luxemburg and Spain are currently open.
The situation regarding the pandemic is still complicated and restrictions are difficult to predict. As a result there is much uncertainty as to when the company will be able to reopen its establishments. The loan is therefore meant to ensure the company does not go bankrupt in the meantime.
