Popular Cork gym was expected to trade ‘into the future’

The directors of a popular Cork city gym which ceased trading suddenly last week, leaving members out of pocket, had “a reasonable expectation” that it would continue to trade “for the foreseeable future”, according to accounts signed off in February.

However Lisa Comiskey and Julie Lacey, respectively the director and company secretary of Source Health and Fitness Ltd, Tivoli, Cork, added a number of caveats.

They included a weakened trading environment, with the company incurring losses in recent years, “due to cutbacks in discretionary spending by consumers”.