Market volatility makes Pure Gym place its flotation plans on ice

Published by Elite Business

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This is the second time the company has pumped the breaks on its public offering, having previously done so in order to see what the outcome of the EU referendum would be. Despite this, Cobbold is optimistic about the company’s future as the company has opened 35 new gyms and gained 150,000 new members in the last year.“

However, Pure Gym is not the only startup affected by the uncertain market. Doron Cohen, CEO of Covercy, a fintech startup, is also worried about a potential hard Brexit. “The consequences of what this actually means and how much red tape will be involved is the real unknown for financial businesses,” he said. “However, it is safe to say that jobs in the financial sector in the UK would be lost to other EU regions, with Frankfurt being the most likely destination to benefit most.”…