Peak Fitness goes into administration

Peak Fitness has gone into administration and closed three sites in Northern Ireland, Glasgow and Newcastle.

Consultant Rod Hill said the shareholders and the bank had decided not to refinance the business, which has a high level of outstanding debt.

The administrators, BDO Stoy Hayward, have closed three loss-making sites, which leaves 12 clubs remaining.

Meanwhile, the company's shareholders and directors have established a trust fund to refund those members who have paid in advance.