The parent company of a series of gym chains, including Fitness First and Jetts Fitness, is looking for a buyer as the company faces a series of hefty losses since the pandemic.

Fitness & Lifestyle Group, which also owns Barry’s Bootcamp, Zap Fitness and Goodlife Health Clubs, could soon come under new ownership as its parent company Quadrant Private Equity looks to offload the gym giant.

The Australian Financial Review’s Street Talk column on Wednesday reported that JPMorgan is preparing a two-stage auction process which will launch in early 2026.

It comes as Fitness & Lifestyle Group reported a $161m loss for the 12 months to June this year.

However, this is an improvement on the $215m loss it suffered in the 2024 financial year.

The company has been plagued by crushing debt it ha

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