Opus Restructuring & Insolvency appointed liquidators of Dundee gym JAG Leisure (Scotland) Limited

JAG Leisure (Scotland) Limited held a franchise allowing it to trade as énergie Fitness, operating as a gym on Douglas Road in Dundee. The company had been experiencing financial difficulties and sector specific challenges post pandemic, resulting in creditor and cash flow pressures.

Largely as a result of the financial consequences attributed to the pandemic, the company ceased trading on 11th July. The director, having closely reviewed the company’s cash flow and all options available, unfortunately found it was not possible for the company to continue to trade given the prevailing circumstances. The director has therefore taken the difficult decision to appoint a Provisional Liquidator to take control of the company’s affairs.

Mark Harper and Steven Parker of Opus Restructuring & Insolvency were appointed joint Provisional Liquidators on 12th July.

As a result, all 13 employees of the company have been made redundant with immediate effect. The Provisional Liquidators have access to all members details and will be in touch separately in due course.

Mark Harper commented: “Despite the Director’s best efforts, and the government support available throughout the period of the pandemic, it was not possible to continue to trade the business due to a range of factors. Regrettably this has resulted in a number of redundancies. As Liquidators we shall ensure that those employees affected by redundancy receive the full range of support available.”