Fitness First avoids administration as CVA approved

Distressed investors Marathon and Oaktree are set to take over UK gym chain Fitness First after creditors approved a company voluntary arrangement (CVA) that will allow a planned debt-for-equity swap to take place.

  • 21 Jun 2012

As required, more than 75% of all creditors and over 50% of unconnected creditors approved the proposal. The majority of Fitness First’s landlords, which were the largest unconnected group of unsecured creditors, voted in favour of the CVA.

Richard Fleming, UK head of restructuring at KPMG and supervisor of ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%