Cannons has put itself up for sale.
Options under consideration include a management buyout and the fitness club operator said it would examine discussions with third parties and other corporate initiatives. It could raise at least £100m through sale and leasebacks of its freehold clubs. One possibility could be the sale of Harbour Club in London’s Chelsea Harbour.
The Daily Telegraph says it is ready to talk to Esporta and Holmes Place as well as venture capitalists which could see it go private. The Times says possible interested parties could include Duke Street Capital and Compass Partners International, Crown Sports, Fitness Holdings, Bally Total Fitness, Boots, BUPA and Hilton.
The Daily Telegraph 22/12/00 page 31
The Times 22/12/00 page 23
The Independent 22/12/00 page 17
