>I thought this was an appropriate picture to use to accompany this story about Esporta given that bids are due in over the next few days for the beleaguered gym group.
Greenhill, the investment bank is presently running an auction and the indication is the price for the 55-club chain may not reach beyond £180 million. A slight drop from the £460 million paid by Simon Halabi last year. Someone will be picking up a bargain at just over £3.2 million per club.
Likely bidders include the usual private equity suspects such as BC Partners and MidOcean partners, along with London & Regional, owners of David Lloyd and Next Generation. However, the key question is who really has the appetite to take on this drifting brand?
Presently, I am a member of Esporta in Brighton, so now may be a good moment to haggle for a discount!