Xercise4Less, a Leeds, UK-based low-cost gym chain, received a £5m equity investment from Business Growth Fund.
The company intends to use the funds to rollout approximately 100 new gyms nationwide and create up to 4000 new jobs in the next five years.
Founded in 2006 by ex-rugby player Jon Wright, CEO, Xercise4Less now operates nine gym sites (predominantly located across the North of England at large out-of-town sites with floor sizes of 30,000 square feet) and employs over 250 people, as well as over 150 freelance staff. It currently has around 80,000 members and a turnover of £7.5m.
FinSMEs
27/08/2013