The Gym Group is “sensibly prioritising prudence over growth” say analysts, as it plans to open 20 new sites this year.
The group, which has 229 gyms, opened a record 28 sites last year, and has said it sees a “clear path to 300 sites”.
However, the scaling back of its ambitions appears to mark a change in approach by the expansionist chain, as its boss announces plans to step down.
Richard Darwin has agreed that he will step down as chief executive after more than four years in the role and, before that, three years as finance chief.
John Treharne, the founder and chair, will act as executive chairman until a new chief executive is appointed.
