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Basic-Fit borrows 150 million euros to avoid bankruptcy

© Belga

Dutch gym chain, Basic-Fit has taken a 150 million euro loan, in order to ensure they have enough liquidity to see through the rest of the crisis, caused by the coronavirus pandemic.

Basic-Fit has needed to close all its gyms in the Netherlands, Belgium and France. Out of the company’s 905 clubs, 805 are shut, and only 54 gyms in Luxemburg and Spain are currently open.

Given the uncertainty of when they’ll have permission to reopen, the loan is meant to ensure the company does not go bankrupt in the meantime.

The Brussels Times