In a trading update, parent company Brait said Virgin Active in South Africa had taken a hit from newly-tightened lockdown restrictions at the end of December, just as it was seeing a return to normality.
Virgin Active SA is liquid, Brait says, but operations in the UK, Italy, and Bangkok need financing
But the gym chain is cashflow neutral in South Africa, and it has the cash to fund itself.
That is not true of operations in Europe and Asia Pacific. Gyms in Bangkok just opened again, but Brait is still talking about the need for financing there, plus in the United Kingdom and Italy, where lockdowns drag on.
Business Insider SA