Latest News

Back to Latest News back

 

Jump! Swim Schools representatives Swim Loops enters voluntary administration

Jump! Swim Schools representatives Swim Loops enters voluntary administration
June 4, 2019

Swim Loops, the company that represents the largest number of Jump! Swim Schools, has gone into voluntary administration. 

However, as the individual swim schools are independently owned they not covered by the order.

Jump! Swim Schools has been facing challenges following a series  of court cases and disputes with franchisees. Jump! had grown dramatically and has more than 100 franchise swim schools in the network, including 60 in Australia and others in New Zealand, the USA, Singapore and Brazil.

Company Director Ian Campbell intends to submit a Deed of Company Arrangement (DOCA) proposal for consideration by creditors in an effort to provide a better outcome for stakeholders than if the Company was placed into liquidation.

Associated business Jump Loops continues to trade but faces a wind up application in Victoria on 6th June.

Glenn O’Kearney of GT Advisory and Consulting was appointed as administrator to Swim Loops following a wind up application brought by Barry Ryle and Dorothy Ryle from Western Australia, which is listed for 11th June.

O’Kearney said his appointment relates only to Swim Loops and does not extend to or affect any other separate related legal entities.

The administrator said while he investigated Swim Loops it would be “business as usual” for Jump franchisees and staff, and he would ask the court to allow sufficient time for the investigations.

Statement from administrator
Appointment of Voluntary Administrator to Swim Loops Pty Ltd (Administrator Appointed) ACN 160 532 490 (“the Company”)

Glenn O’Kearney was appointed as voluntary administrator to Swim Loops Pty Ltd on 20 May 2019.

Having been only very recently appointed, the administrator is in the initial stages of his investigations into the affairs of the Company. The voluntary administration process is designed to resolve a company’s future direction quickly, and to give the Company and its business the best chance to continue in existence; or if that is not possible, provide the best possible return for the Company’s creditors.

In this regard, the administrator has been made aware by the Director of the Company, Ian Campbell, that he intends to submit a Deed of Company Arrangement (DOCA) proposal for consideration by creditors in an effort to provide a better outcome for stakeholders than if the Company was placed into liquidation.

Any DOCA proposal and the affairs of the Company will need to be thoroughly examined so that the administrator can accurately report to creditors on the state of the Company’s affairs and to provide a recommendation to creditors regarding the future of the Company. The administrator notes that there is an application for the winding up of the Company to be heard on 11 June 2019. The administrator will be asking the Court to allow the administrator sufficient time to conduct the investigations required of the administrator and to report to creditors with a recommendation regarding the future of the Company.

Over the course of the coming weeks, the administrator will be assessing the financial position of the Company with a view to developing a recommendation for the future of the Company for consideration by creditors.

Whilst this assessment is continuing, it is business as usual for the Company and its franchisee network, who will be contacted by the administrator’s office in the coming days. Jump! Swim Schools head office and key management personnel will also continue to support the franchisees within the Swim Loops Pty Ltd franchise network so franchisees are advised they can also communicate any queries through their normal channels.
Importantly, the administrator confirms that his appointment relates only to Swim Loops Pty Ltd, and does not extend to or affect any other separate related legal entities, or parties that have contracted with those separate legal entities.

Jump! Swim Schools image used for illustrative purposes only.

Related Articles

18th April 2019 - Result Based Training fitness group enters administration after ‘very large’ tax bill

11th February 2019 - Politicians pledge funds but are they serious about water safety?

9th January 2019 - Jump! Swim School responds to media reports of dissatisfied franchisees

8th January 2019 - Media slam Jump! Swim Schools over dissatisfied franchisees

24th July 2018 - JUMP! Hackham Swim School named South Australian Swim School of the Year

28th November 2017 - New south east Queensland Swim School to focus on infant swimming

29th April 2017 - Swim School operator in the running for national franchising award

27th January 2017 - JUMP! Swim Schools welcomes 15,000 young swimmers

2nd December 2016 - Australian swim school franchise opens first international site

18th November 2016 - Infants driving JUMP! Swim Schools summer enrolments

24th October 2016 - JUMP! Swim Schools named Emerging Franchisor of the Year


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

The Retention People Australia

TRP help health clubs, leisure centres and gyms across the globe create happy, loyal members through our user-friendly software which enables effective engagement and the delivery exceptional customer…

read more

Fitness / Marketing / Recreation / Technology / Wellness

 
 

TouchCloud Global

Activating skyscapes for tourism, art, leisure and living TouchCloud Global (TCg) is a highly specialised international consultancy, broker and principal, devoted solely to activating and energising…

read more

Attractions / Consultants / Recreation / Safety / Tourism

 
 

SWIMPLEX AQUATICS

Swimplex Aquatics are a world-class company dedicated to the commercial pool, waterslide industry. We are Australian market leaders servicing all states Australia wide. Swimplex provide a full…

read more

Aquatics / Attractions / Design / Play / Waterparks

 
 

METRA Australia

METRA Australia is your innovation partner for smart electronic locking, Access Control solutions and cashless payment systems to suit all types of leisure facilities.  Our team’s…

read more

Aquatics / Attractions / Fitness / Recreation / Security

 
 

WATERPLAY Solutions Corp

Whether your goal is increasing your centre's revenues or creating an engaging environment, why not add play to your project? If you're looking for stylish aquatic play features, kid-tested…

read more

Aquatics / Attractions / Play / Recreation / Waterparks

 
 

revolutioniseSPORT

revolutioniseSPORT is the emerging market leader in online club management in Australia. Whether it is memberships, registrations, events, online sales or governance tools - revolutioniseSPORT is the…

read more

Recreation / Sport / Technology

 
 

Otium Planning Group

Otium Planning Group is a contemporary sport and leisure consultancy providing services in planning, facility development, management and funding for the sport, recreation and leisure industries…

read more

Aquatics / Consultants / Recreation / Sport / Venues

 
 

HQH FITNESS

HQH Fitness is an international company that specialises in improving the health, fitness and wellness of people everywhere. We are the South Pacific distributors for Total Gym/GRAVITY Education and…

read more

Fitness / Recreation / Technology / Wellness

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business