Publication
Restructuring in the leisure sector: what does the future hold?
As the UK progresses on its path out of lockdown, leisure businesses will now be focused on successfully navigating the restart against a backdrop of uncertain demand, consumer spending power and changing consumer attitudes. Ian Corfield Restructuring Advisory
Synopsis
The UK’s leisure sector – encompassing everything from gyms to cinemas and leisure complexes – has faced a year of challenging conditions, with successive lockdowns cutting revenue and forcing many management teams to mothball their operations. Earlier this year, leisure and fitness industry association ukactive estimated that gyms, swimming pools and leisure facilities would lose a combined £90 million in revenue for every week under lockdown restrictions. As the UK progresses on its path out of lockdown, leisure businesses will now be focused on successfully navigating the restart against a backdrop of uncertain demand, consumer spending power and changing consumer attitudes. While there will undoubtedly be an initial rebound in demand for leisure services, directors will need to ensure their businesses are financially and operationally fit to return to trading, and carefully consider how they might need to adapt their business to recover and thrive in a new, post-lockdown environment. Here, we explore the headwinds the sector is facing, and the key factors that leisure businesses will need to keep in mind as they re- open their doors.
Ian Corfield Partner Restructuring Advisory London +44 (0)20 3005 4165 ian.corfield@frpadvisory.com
Phil Armstrong Partner Restructuring Advisory London
+44 (0)20 3005 4269 phil.armstrong@frpadvisory.com
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