DCSIMG

Liquidators to sell on health club

18/5/01, LIZ MCCOLGAN AT HER GYM ON THE OUTSKIRTS OF CARNOUSTIE. PIC IAN RUTHERFORD

18/5/01, LIZ MCCOLGAN AT HER GYM ON THE OUTSKIRTS OF CARNOUSTIE. PIC IAN RUTHERFORD

THE ACCOUNTANCY firm of Johnston Carmichael has been appointed provisional liquidators of a Carnoustie health club which closed last year.

Receivers were called in at the Liz McColgan Health Club and Physiotherapy Centre at the end of November. It is believed that the debt at the facility runs into hundreds of thousands of pounds, which forced the surprise closure.

Olympic silver medallist Ms. McColgan (48) made the following statement on Friday, November 23: “Regrettably today I was advised to close the gym till further notice.

“As most know I am going through a divorce and for over two years now I have financed the gym and my children alone. I would like to thank all members for their support over the years. And thanks to all my staff for their loyalty and hard work through what has been a very difficult time.”

Donald McNaught, director of insolvency at Johnston Carmichael, was appointed after a petition by the creditors.

He said that his principal duty was to safeguard the assets. He went on: “There is a due process to follow in preparation for a full blown liquidation.

“Our main aim will be to sell the business on in its existing use.” He explained it could not be sold as a going concern as staff had been laid off in November.

He continued: “If we are unable to find a buyer to take on the business then we will need to explore other avenues that will create value for the company’s creditors, including the sale of individual assets.”

Mr McNaught visited the site at Panbride on Wednesday to collect information.

 

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