All Virgin Active gyms to close in countries with Covid-19 outbreaks
DURBAN - JSE-listed investment holding company Brait said it will close all of its Virgin Active gyms in countries where there is a Covid-19 outbreak, effective on Wednesday in an attempt to limit the impacts of the virus.
It said Virgin Active’s policy is to follow government directives in terms of how and whether to operate in all countries.
“As a result, all gyms in Italy, the UK, Australia, Thailand and South Africa have been closed as part of the government’s initiatives to limit the spread of the virus,” the group said.
The group added that the number one priority at this time is the welfare of its people and their future job security.
Brait has a portfolio of investments in different companies like Virgin Active, New Look, Iceland Foods and Premier.
The group has welcomed the initiatives taken by some of the countries to support businesses during this outbreak.
“Both the Italian and UK governments have implemented a number of measures to support business which will significantly mitigate ongoing operating costs and preserve cash reserves, including support with workers’ wages, business rates relief, and tax deferrals,” the group said.
In South Africa, President Cyril Ramaphosa has established a solidarity fund to help businesses in distress to combat the spread of the virus.
The group said trading performance to February was in line with the budget and up on a year earlier, largely driven by a strong performance from the South African business.
Brait has taken measures across all territories to stop pay rises and bonus payments, with further initiatives focused on preserving cash.