Latest news with #VirginActive
The Citizen
4 days ago
- Business
- The Citizen
Virgin Active closes three clubs in three months
Closure in May sees the group exit Soweto completely … No pain, no gain. The gym chain is catching up on overdue capex as it works to 'meet the minimum brand standards'. Picture: Virgin Active SA Virgin Active is shutting three of its clubs across May, June and July. The first of these, the Jabulani RED club in Soweto, closed at the end of May. This closure means there are no longer any Virgin Active gyms in Soweto, following the Maponya Mall club's closure last year. Its Southgate club was closed in 2019. It says that 'despite our best efforts and continued investment in the [Jabulani] facility, this model has unfortunately not resonated in the way we had hoped'. The group has announced that the club at Boulders in Midrand will close at the end of June and that its Riverside club in Mbombela (Nelspruit) will shut at the end of July. ALSO READ: Virgin Active still not near pre-Covid members, revenue Won't compromise on standards Regarding the Boulders club, it says 'after proudly serving our members for over 15 years, the club has now reached a point where, even with extensive renovations, it would not be possible to meet the modern standards we hold ourselves to'. 'For this reason, we will be closing the club at the end of its current lease'. It says it faces a similar situation in the capital of Mpumalanga: 'Having reached its 10-year milestone, the club is no longer able to meet the modern standards of design, innovation, and experience that our members have come to expect. Even with significant renovations, the site would not be able to deliver the future-forward Virgin Active experience we strive to offer, nor remain sustainable in the long term.' Its other club in the city is located just 3.5km away. At its peak, at the end of 2018, Virgin had 141 clubs in Southern Africa. At the end of 2023 (the latest publicly available figure), this number had reduced to 132, according to the gym operator's owner Brait. It opened a string of clubs in the late 2010s, with the most recent being Table Bay Mall (Cape Town), Cornubia Mall (Durban), Kyalami Corner (Johannesburg) in 2017 and Loftus Park (Pretoria) in 2018. ALSO READ: 'Males' in female steam room – Virgin's gender policy sparks debate Virgin still recovering Following the impact of the Covid-19 pandemic in 2020 and 2021, the group has taken a further two years to recover to what Brait calls 'maintainable' revenue levels. It has still not reached its stated 'maintainable' Ebitda (earnings before interest, tax, depreciation and amortisation) level, but ought to do so in the 2025 financial year. Virgin Active has 634 000 members in southern Africa (as at September 2024), an increase of 5% from the 604 000 it had at the end of 2023. It is catching up on 'overdue' capex in South Africa (and in the UK). It says this is necessary in both markets to 'meet the minimum brand standards'. Refurbs are currently underway at the Silo District (Collection) at the V&A Waterfront and Point club also in Cape Town, as well as the Bryanston and Glen Acres clubs in Gauteng. The Point refurbishment is well overdue but was contingent on it winning an auction for the lease in 2023. It outbid a rival, and the new lease starts at R3.7 million per month, which is understood to be substantially more than it had been paying for the previous 23 years. In April, Brait said Virgin Active was prioritising 'capital investment in the estate to enhance the member proposition'. It added that the group 'has continued to trade positively since the beginning of the calendar year, with above budget membership growth in Italy and the UK offset by slightly less than budgeted growth in South Africa and Australia'. Acquisitions, rollouts – and a boost Brait acquired The Real Foods Group, the owner of Kauai and Nü in 2022, and has prioritised the rollout of these stores in clubs where they weren't yet present. It received a major boost with the renewal of its contract with Discovery this year, which had previously been renewed in 2019. Brait has been effectively winding down the business since 2020 by exiting its investments, under new management by Ethos. It sold DGB and Iceland in 2020, Consol in 2022 and listed Premier Foods in March 2023, but retains a stake in the business (which it will sell down over time). It is planning to sell its holding in New Look in the next 12 to 18 months and is looking to list or sell Virgin Active in 2026/27. This article was republished from Moneyweb. Read the original here.
Time Business News
05-06-2025
- Lifestyle
- Time Business News
10 Best Gyms in Sydney (2025) for Every Fitness Level
Looking for the best gyms in Sydney? Whether you're a beginner or a pro, here are the top 10 gyms in 2025 for every fitness level, goal, and budget. 10 Best Gyms in Sydney (2025) for Every Fitness Level Finding the perfect gym isn't just about the equipment it's about the vibe, the trainers, the crowd, and whether you actually want to go. Whether you're new to fitness, training for your next marathon, or trying to finally commit to those New Year's goals, this list of the best gyms Sydney has to offer in 2025 has something for you. We've included a mix of budget-friendly spots, elite performance centres, 24/7 chains, and community-style gyms so you can pick what fits you best. 1. Virgin Active – Pitt Street Best for: All-round fitness, luxury facilities, group classes Located in the heart of Sydney CBD, Virgin Active is known for its high-end facilities, top-tier equipment, and wide range of group classes from boxing and HIIT to reformer Pilates. The environment is clean, modern, and motivating. Membership: From $38/week From $38/week Bonus: Sleep pods, spa, and a smoothie bar 2. Fitness First – Bondi Platinum Best for: Group classes, premium location, variety of training styles Fitness First is a household name, and the Bondi Platinum location is one of their best. You'll find everything from free weights to yoga to small group training. Plus, the views near the beach are a mood booster in themselves. Membership: From $32/week From $32/week Bonus: Outdoor training zone & sauna 3. Plus Fitness 24/7 – Multiple Locations Best for: Convenience, affordability, beginners If you want a no-frills, accessible gym that's open 24/7, Plus Fitness is a reliable choice. It's beginner-friendly with all the essential machines, and most locations have a strong community vibe. Membership: From $14.95/week From $14.95/week Bonus: No lock-in contract 4. 98 Gym – Riley Street Best for: Strength & conditioning, serious athletes Founded by former Commando Steve from The Biggest Loser , 98 Gym is for those who want to train like professionals. It focuses on performance training, functional movement, and results-based workouts. Membership: From $65/week From $65/week Bonus: Access to expert programming & performance testing 5. F45 Training – Various Locations Best for: High-intensity group workouts, time-efficient sessions If you like a fast-paced, social workout, F45 might be your match. Each 45-minute class is a mix of cardio and strength, changing daily. With locations all over Sydney, it's super accessible. Membership: From $55/week From $55/week Bonus: Community-driven with trainer support every session 6. City Gym – Darlinghurst Best for: Bodybuilding, diversity, old-school gym lovers An iconic gym in Sydney with a strong LGBTQ+ following, City Gym has been around since 1978 and still delivers. It's especially popular among bodybuilders, fitness models, and people who love a no-BS gym vibe. Membership: From $29.95/week From $29.95/week Bonus: Open 24/7 with a café and posing room 7. 1R (OneRebel) – Martin Place Best for: Boutique fitness, music-driven workouts, stylish space Think of it as the 'nightclub of fitness.' OneRebel is a UK-born boutique fitness brand known for its intense classes, LED-lit rooms, and pumping playlists. It's all about the experience. Membership: Class-pack or pay-per-class from $30 Class-pack or pay-per-class from $30 Bonus: Luxury changerooms & cold towels 8. Snap Fitness – Suburban Locations Best for: Quiet environments, 24/7 access, local feel Snap Fitness is great for those who want a more relaxed, consistent space to train in. It's less crowded than the big chains and offers decent equipment and personalized programs. Membership: From $17.95/week From $17.95/week Bonus: Free intro PT session with most memberships 9. The Cube Gym – Zetland Best for: Functional training, CrossFit-style workouts If you love lifting, jumping, pulling, and sweating with intention, this place blends the best of CrossFit with structured strength training. The coaches are hands-on, and the programming changes often. Membership: From $55/week From $55/week Bonus: Open gym access plus coached classes 10. Barry's Bootcamp – Martin Place Best for: HIIT lovers, high-energy sessions, transformation goals Barry's is all about intensity and results. Known globally for its 'red room,' every session combines treadmill intervals with strength circuits. It's hard but it works. Membership: Class packs or unlimited options starting around $35/session Class packs or unlimited options starting around $35/session Bonus: High-end protein bar on site Things to Consider When Choosing a Gym in Sydney Location: Choose one close to home or work you're more likely to go Choose one close to home or work you're more likely to go Fitness level: Some gyms are beginner-friendly, others cater to pros Some gyms are beginner-friendly, others cater to pros Training style: Group fitness? Bodybuilding? Functional? Match the vibe Group fitness? Bodybuilding? Functional? Match the vibe Hours: 24/7 gyms offer flexibility if you have a hectic schedule 24/7 gyms offer flexibility if you have a hectic schedule Cost: Don't forget to check for joining fees or minimum contracts Large FAQs (Instead of Conclusion) Plus Fitness and Snap Fitness offer some of the lowest weekly rates, often under $20, with 24/7 access and no lock-in contracts. Yes! Virgin Active, Barry's Bootcamp, and OneRebel are premium fitness spaces with designer facilities, high-end equipment, and extra perks like saunas, sleep pods, and luxe changerooms. Snap Fitness, Plus Fitness, and some Fitness First locations are great for beginners with easy-to-use machines and optional PT guidance. Virgin Active and F45 stand out for their variety and quality of group training. If you're after a boutique feel, Barry's Bootcamp and OneRebel are top choices. Many gyms offer free trials or discounted intro weeks. It's best to visit their website or call the front desk to check availability. Yes. Plus Fitness, Snap Fitness, and City Gym are open 24/7 and are ideal for people with non-traditional schedules. City Gym and 98 Gym are two of the best spots for serious lifters, offering extensive weight racks, machines, and supportive communities. If you value experience, motivation, and design, boutique gyms like Barry's or OneRebel can be worth the higher cost especially if group training keeps you consistent. Some locations like Fitness First and Virgin Active offer student or off-peak discounts. Always ask during signup. Most mid-to-high-end gyms such as Virgin Active, Fitness First, and 98 Gym offer showers, lockers, and towel service. TIME BUSINESS NEWS
Scottish Sun
23-05-2025
- Business
- Scottish Sun
Who are Oliver & Alexander Kent-Brabham? Millionaire Marshmallow car insurance CEOs who began selling golf balls aged 12
BRIT twin entrepreneurs Oliver and Alexander Kent-Braham founded Marshmallow in their 20s and initially ran it using free wi-fi out of a Virgin Active gym. The pioneering fintech insurance company was valued at around £1.5 billion in 2025 — here's everything you need to know. 2 Oliver and Alexander Kent-Braham (right) and were featured in the 2025 Rich List Credit: Getty Who are the Kent-Braham twins? Oliver and Alexander Kent-Braham co-founded Marshmallow — a pioneering car insurance fintech company that has achieved unicorn status. Fintechs are companies that rely primarily on technology and cloud services to provide financial services, rather than physical locations. And in the context of venture capital and startups, "unicorn status" refers to a private company valued at over $1 billion. Oliver and Alexander were featured in the 2025 Rich List, ranking seventh on the 40 Under 40 list with an estimated wealth of £704 million. The brothers were the biggest insurance climbers on the list, highlighting their rapid rise among the UK's wealthiest youngsters. Selling golf balls at 12 Oliver and Alexander began their entrepreneurial journey early, selling golf balls they retrieved from a lake by the age of 12. Educated at Reed's School in Surrey, where they were talented tennis players — even representing Great Britain at under-16 level — the twins eventually shifted their focus from sports to technology and finance — particularly fintech. They identified a significant gap in the UK insurance market — the difficult "riskier" groups such as young drivers, or those with low credit scores, face when trying to get affordable car insurance. In 2017, Oliver and Alexander founded Marshmallow alongside chief technology officer (CTO) David Goaté and industry veteran Tim Holliday, who's now the CEO of the company, The company was initially run from the lobby of a Virgin Active gym, where their vision of using advanced data science and technology to offer fairer pricing and coverage came to life. In 2021, Oliver told the BBC: "We were all members of Virgin Active gym. It had wi-fi, coffee and a location on The Strand!" He added: "If we were going to start again we would look to raise capital sooner, because before you raise capital you don't have the confidence to take the next step. 2 Marshmallow car insurance billboard Credit: Marshmallow car insurance "It was literally Tim Holliday, David, Alexander and myself for nine months. Tim joined our company not taking a salary." Their next step was to raise capital to grow the business. Oliver said: "Venture capitalists hold the keys to starting new companies. "You have to have a mutual acquaintance to even speak to many funders and that needs to change," Marshmallow quickly grew, attracting over 100,000 users early on and expanding its team significantly. The company has gone on to raise substantial venture capital funding, including an $85 million (£63 million) Series B round in 2021, which valued it at $1.25 billion (930 million), before a $90 million (67 million) funding round in 2025 that nearly doubled its valuation to $2 billion (£1.5 billion). The Kent-Braham twins have become notable figures not only for their business success, but also for their role in promoting diversity and inclusion in the fintech and insurtech sectors, which have been often been viewed as traditionally conservative.
The Irish Sun
23-05-2025
- Business
- The Irish Sun
Who are Oliver & Alexander Kent-Brabham? Millionaire Marshmallow car insurance CEOs who began selling golf balls aged 12
BRIT twin entrepreneurs Oliver and Alexander Kent-Braham founded Marshmallow in their 20s and initially ran it using free wi-fi out of a Virgin Active gym. The pioneering fintech insurance company was valued at around £1.5 billion in 2025 — here's everything you need to know. Advertisement 2 Oliver and Alexander Kent-Braham (right) and were featured in the 2025 Rich List Credit: Getty Who are the Kent-Braham twins? Oliver and Alexander Kent-Braham co-founded Marshmallow — a pioneering car insurance fintech company that has achieved unicorn status. Fintechs are companies that rely primarily on technology and cloud services to provide financial services, rather than physical locations. And in the context of venture capital and startups, "unicorn status" refers to a private company valued at over $1 billion. Oliver and Alexander were featured in the 2025 Rich List, ranking seventh on the Advertisement read more UK news The brothers were the biggest insurance climbers on the list, highlighting their rapid rise among the Selling golf balls at 12 Oliver and Alexander began their entrepreneurial journey early, selling golf balls they retrieved from a lake by the age of 12. Educated at Reed's School in Surrey, where they were talented tennis players — even representing Great Britain at under-16 level — the twins eventually shifted their focus from sports to technology and finance — particularly fintech. They identified a significant gap in the UK insurance market — the difficult "riskier" groups such as young drivers, or those with low credit scores, face when trying to get affordable car insurance. Advertisement Most read in The Sun Exclusive In 2017, Oliver and Alexander founded Marshmallow alongside chief technology officer (CTO) David Goaté and industry veteran Tim Holliday, who's now the CEO of the company, The company was initially run from the lobby of a Virgin Active gym, where their vision of using advanced data science and technology to offer fairer pricing and coverage came to life. In 2021, Oliver told the BBC: "We were all members of Virgin Active gym. It had wi-fi, coffee and a location on The Strand!" He added: "If we were going to start again we would look to raise capital sooner, because before you raise capital you don't have the confidence to take the next step. Advertisement 2 Marshmallow car insurance billboard Credit: Marshmallow car insurance "It was literally Tim Holliday, David, Alexander and myself for nine months. Tim joined our company not taking a salary." Their next step was to raise capital to grow the business. Oliver said: "Venture capitalists hold the keys to starting new companies. Advertisement "You have to have a mutual acquaintance to even speak to many funders and that needs to change," Marshmallow quickly grew, attracting over 100,000 users early on and expanding its team significantly. The company has gone on to raise substantial venture capital funding, including an $85 million (£63 million) Series B round in 2021, which valued it at $1.25 billion (930 million), before a $90 million (67 million) funding round in 2025 that nearly doubled its valuation to $2 billion (£1.5 billion). The Kent-Braham twins have become notable figures not only for their business success, but also for their role in promoting diversity and inclusion in the fintech and insurtech sectors, which have been often been viewed as traditionally conservative. Advertisement
Scottish Sun
02-05-2025
- Business
- Scottish Sun
Are gyms open on the Early May Bank Holiday 2025?
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) GYMS are always popular in the build-up to the summer months as Brits start working on their ideal beach bodies. However, fitness enthusiasts may have to take a break as several major chains will be adjusting their hours on the Early May Bank Holiday. Sign up for Scottish Sun newsletter Sign up 3 Some gyms will be adjusting their hours over the bank holiday Credit: Getty Images 3 However, some clubs will remain open for hardcore fitness fanatics Credit: Getty Images The Gym Group Unlike many gym chains in the UK, the Gym Group's branches are open 24/7. This allows customers to work out at any time of their choosing. Its gyms will remain open to customers on the Early May Bank Holiday. Bannatyne's Founded by Scottish business mogul and Dragon's Den star Duncan Bannatyne, Bannatyne Health Clubs are one of the UK's most fashionable places to work out. The chain launched in 1997, in North Yorkshire, and soon grew to have over 60 locations in the UK. Opening times vary between clubs so you'll need to check your local gym's webpage for more details. David Lloyd clubs David Lloyd Leisure was launched in 1982 by tennis legend David Lloyd and has become synonymous with the word "luxury". The chain now has over 100 gyms in the UK and offers swimming, tennis and personalised fitness classes. David Lloyd clubs normally remain open on the Early May Bank Holiday, though some clubs may have a reduced number of classes. Ask at your local gym's reception for more details. Dunnes Stores drop new seamless workout collection Pure Gym Pure Gym is the largest UK gym chain by membership and has more than 300 facilities across the UK (as of April 2025). The chain's facilities are open 24/7, similar to The Gym Group, meaning it is welcomes customers all year round. Although you may need to ask for more details at your local gym, most of the brand's clubs will be open as normal on the Early May Bank Holiday. Total Fitness Despite having just 15 locations in England and Wales, Total Fitness have a staggering 80,000 members. Total Fitness gyms generally open on bank holidays, but business hours will vary depending on the location of each gym. The only exception to this is over Easter, when Total Fitness have closed on Easter Sunday, and operated with reduced hours on Good Friday and Easter Monday. 3 Virgin Active launched in 1999 Credit: Alarmy Virgin Active Virgin Active was first opened by Sir Richard Branson in 1999 and has quickly become one of the coolest gym chains in the UK. On weekdays, Virgin gyms normally open at 6am and close again at 10pm. Opening times are different on weekends, though, with most gyms opening at 8am and closing at 8pm. Virgin Active varies its hours on the Early May Bank Holiday depending on location, so ask at the reception of your gym for specific opening times. Bank holiday dates There are several more UK bank holidays to look forward to this year: England and Wales May 5, 2025 - Early May bank holiday May 26, 2025 - Spring bank holiday August 25, 2025 - Summer bank holiday December 25, 2025 - Christmas Day December 26, 2025 - Boxing Day Scotland May 5, 2025 - Early May bank holiday May 26, 2025 - Spring bank holiday August 4, 2025 - Summer bank holiday December 1, 2025 - St Andrew's Day December 25, 2025 - Christmas Day December 26, 2025 - Boxing Day Northern Ireland
