Shrewsbury health club sold out of collapse
Shrewsbury-based Welti Health and Fitness Club has been sold after its operator SW Tennis fell into administration.
Eddie Williams and Mark Shires of PwC were appointed as joint administrators of SW Tennis Limited yesterday (21 December 2011). The company operated the Welti Health and Fitness club which comprised health, fitness and tennis facilities.
Immediately following their appointment, the administrators completed the sale of the business and assets to Mosaic Spa and Health Clubs.
Williams said the club had struggled over the last 12 to18 months with a reduction in consumer spending and the increasing need for capital investment and refurbishment.
The acquisition of the business secures the immediate future of the club which has over 40 employees and subcontractors.
Williams, a director at PwC, said: "I’m delighted that we have been able to secure a sale of the business and enable the transfer of all employees at a club with a great reputation for fitness and its first class tennis facilities.
"The sale means that not just will it be business as usual for club members and staff but that under new ownership, I would expect that the facilities and services at the club will be further improved."
