Scotland business

Aberdeenshire gym operator Millennium Leisure collapses

Millennium Leisure gym in Inverurie Image copyright Google
Image caption Millennium Leisure had bases in Inverurie, as well as Peterhead

An Aberdeenshire gym operator has gone into administration, with the loss of eight jobs.

Administrators for Aden Morgan Summers Ltd - trading as Millennium Leisure - said the company had suffered cash flow problems as a result of the oil and gas downturn.

FRP Advisory also cited rising costs, including increased business rates, for the collapse.

Millennium Leisure operated at bases in Inverurie and Peterhead.

Joint administrator Iain Fraser said: "Millennium Leisure is a well-known gym operator however, the company has been affected by external factors that have caused serious financial problems and administration was the only option.

"The assets might be of interest to another gym operator, or to an entrepreneur keen to enter this market.

"Unfortunately, all staff have been made redundant, but we will work closely with all agencies and services to ensure employees receive every support and assistance at this very difficult time."

Related Topics

Related Internet links

The BBC is not responsible for the content of external Internet sites