Pure gets US$50 million financial lifeline from investors, sources say

Pure is set to receive more than US$50 million from investors including Primavera Capital and some existing shareholders, such as FountainVest Partners, sources say

Pure, the Hong Kong gym chain frequented by the city’s financial elite, has secured commitments for new funding to help it pay down debt, according to people familiar with the matter.

The gym operator, which tends to lease large spaces in premium locations in the city, is set to receive more than US$50 million from investors including Primavera Capital and some existing shareholders, such as FountainVest Partners, as soon as paperwork is completed, the people said.

The company is in talks with landlords to reduce rents at its facilities, the people said.

A Pure representative declined to comment. Primavera and FountainVest did not immediately respond to a request for comment.