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United States : LA fitness names MICHAEL O DONNELL as its new CHAIRMAN

August 25, 2014

LA fitness, Gym group has declared about the naming of Michael O Donnell, a private equity specialist as its new chairman, rendering speculation that the rump of the chain would be dealt following the offloaded scores of clubs to survive.

Mike Ashley, Sports Direct founder took over 13 of 33 clubs LA fitness is offloading via a CVA a controversial insolvency procedure.

Michael, who served at Legal & General s private equity arm prior to the set up of his own firm, Ebbtide Partners in 2009.

Upon the completion of the restructuring, he would be re-assessing the alternative for the maintained businesses. Mr O Donnell replaces Fred Turock as chairman.

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Source: TendersInfo (India)

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