ADEN MORGAN SUMMERS LIMITED (IN ADMINISTRATION)
TRADING AS: MILLENNIUM LEISURE, PETERHEAD & ML HEALTH & FITNESS, INVERURIE
On 26 September 2017 Alexander Iain Fraser and Thomas Campbell MacLennan, both of FRP Advisory LLP, were appointed Joint Administrators of Aden Morgan Summers Limited.
The business has ceased trading and all enquiries should be made to FRP Advisory LLP.
FRP Advisory LLP
Suite 2B, Johnstone House
52-54 Rose Street
“A North-East gym business, Aden Morgan Summers Limited (“the Company”), which trades as Millennium Leisure, has been placed in administration with Iain Fraser and Tom MacLennan, partners with FRP Advisory LLP, the business advisory firm, appointed as joint administrators.
Founded in 1997, Millennium Leisure operates fully-equipped gyms in Inverurie and Peterhead. Members have access to a wide range of gym and fitness equipment, and access to personal training, coaching and fitness classes. 8 staff were employed.
The administration has been caused by cash flow problems stemming from the downturn in the oil and gas sector and rising costs, such as increased business rates. The joint administrators are marketing the company assets for sale, and urging prospective buyers to contact them as soon as possible.
Iain Fraser, joint administrator and partner with FRP Advisory, said: “Millennium Leisure is a well-known gym operator however, the company has been affected by external factors that have caused serious financial problems and administration was the only option. The assets might be of interest to another gym operator, or to an entrepreneur keen to enter this market. Unfortunately, all staff have been made redundant, but we will work closely with all agencies and services to ensure employees receive every support and assistance at this very difficult time.”
Customer members wishing to contact the joint administrators are being asked to email: firstname.lastname@example.org”
Unfortunately due to the downturn in the oil price, the business has seen a substantial reduction in income and a large increase in running costs from rates, electric and gas and as a result the business has had to cease trading.
We would like to thank all our friendly and helpful staff and will miss our loyal members.
The Millennium Team