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400,000+ reaDerS leisure opportunities 1 May – 14 May 2012 ISSUE 579 Daily news & jobs: Fitness First announces debt deal

Health club operator Fitness First has signed a three-month waiver agreement with its key creditors to allow a compre- hensive debt restructuring. Te deal will see most of the

group’s debt wiped out, with two key creditors – Oaktree and Marathon – gaining more control of the business. In a statement, Fitness

First said: “During this three- month extension period, Oaktree and Marathon have agreed to work closely with Fitness First and its man- agement to ensure that the company has the necessary working capital to continue to operate its facilities as normal and fulfil its obligations.” Chris Stone, CEO of Fitness First, said:

Te historic ship has now reopened to the public

Restored Cutty Sark unveiled by The Queen

The Queen has officially reopened the restored Cutty Sark in London. Te historic clipper was severely dam-

aged by fire in 2007, but has since been fully restored thanks to a £50m redevelopment that has taken five years to complete. Te Heritage Lottery Fund has contrib-

CEO Chris Stone (above) said the deal secures the gym chain’s future

“Fitness First is a strong brand that offers excellent service to its members in a num- ber of countries, and I am looking forward to

Work to begin on St Ives leisure centre

Work on a £3.2m redevelopment of the One Leisure facility in St Ives, Cambridgeshire will begin in June 2012 aſter the project was given final approval by the local authority. Te redevelopment will include the

opening of a new Pure Health and Wellbeing-branded spa facility and a new 150-station fitness suite, as well as a five-lane bowling alley. Te Pure spa will have six treatment rooms. The centre is operated by One

Leisure, the leisure division of Huntingdonshire District Council. Details:


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working closely with all our stakeholders to ensure that appropriate finance is in place to allow us to prosper well into the future.” Read more:

DCMS to close after Olympics?

Te coalition government is considering shut- ting down the Department for Culture, Media and Sport (DCMS), according to Labour party deputy leader Harriet Harman. Writing in London’s Evening Standard (ES),

Harman said “there are well-sourced rumours” that the government sees DCMS as surplus to requirements aſter the 2012 Games. Harman’s claims came on the same day that

an influential conservative think tank sug- gested that scrapping the department would produce ‘huge savings’ for the government. Te Institute of Economic Affairs (IEA)

claims that closing the DCMS could save £1.6bn if all departmental spending ceased.

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Jeremy Hunt is currently culture secretary at DCMS Te free market group also suggested that

the savings on expenditure would give the gov- ernment scope to cut taxes elsewhere. Details: (ES) Details: (IEA)

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uted a total of around £23m towards the conservation, while the Greater London Authority, Greenwich Council and the Department for Culture, Media and Sport have also invested in the scheme. Read more:

image: national maritime museum

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