HOLMES PLACE IN SHOCK MOVE TO CLOSE HAMMERSMITH HEALTH CLUB
Staff laid off and members to be transferred to other clubs
In a shock move the Holmes Place Leisure Group is to close its Hammersmith branch at the end of this month. The club which is near Ravenscourt Park tube was used by many Chiswick residents particularly in the East of the area.
The move reflects an increasingly competitive market in the mid-range of the health club market locally with the controversial Virgin Active club in Acton adding to an already crowded sector. The Holmes Place share price has been under pressure for quite some time falling from a recent peak of around £3 to the current (27th June) level of £1.22.
At a recent AGN Holmes Place chairman Graham Reddish reflected the difficult market in the UK saying, "Within our established clubs - those that have traded for more than 24 months - we are encountering an increasingly competitive environment."
Although it is not clear what will happen to the membership of existing users of the club it is thought likely that they will be offered other Holmes Place clubs as an alternative. The nearest one to Chiswick is in the Brook Green area.
Other local clubs such as the Esporta in Chiswick Park are reportedly making joining offers at the moment.
July 3, 2002