Low cost gym chain Xercise4Less has received a £5m investment to support the group’s plan to roll out 50 new gyms across the country.

BGF, an independent company established to help the UK’s growing businesses, will provide capital to support the group’s plan to have the new projects established over the next five years.

Xercise4Less was launched in Yorkshire in 2006, by ex-rugby player and industry operator Jon Wright.

Wright said:“BGF’s funding will give us the financial and operational facilities to continue our expansion. The Xercise4Less concept is growing because we believe that a budget gym shouldn’t offer a budget experience. Cost remains a major issue for many consumers today.”

“The facilities we offer and the price at which we offer them, continue to attract a large tranche of new consumers into the market.”

The business now operates from nine sites across Britain, with its gyms predominantly located across the north of the country.

Xercise4Less CEO Jon Wright interviewed in the latest issue of Health Club Management. Read it here