Andrew Simpson and wife Janet have secured a 15-year lease on Active Images, which hit financial trouble in November.
"We are launching a new business philosophy," said Mr Simpson on Monday.
Ethos Health & Fitness will open for business after a major refurbishment programme, including replacing the ladies' changing room, that will start on Friday.
Janet Simpson, who regularly used the gym, will become managing director of the Mobberley club.
"We will be well known to regular afternoon gym-goers," said Mr Simpson, 48.
"Hopefully people will know we are sincere."
The new gym will form part of Mr Simpson's family business group, which includes the multi-million pound Manchester-based company Simpson Ready Foods Limited.
Mr Simpson, who has lived in Ollerton all his life, is confident that his backing will bring a new era of stability after Gerry Godfrey's reign ended in liquidation.
But the estimated 1,500 members, many of whom paid lump sum cash payments to join, will not be able to retrieve their membership fee.
A new membership fee will have to be paid for entry to Ethos Health and Fitness, although current members can use the present facilities until Friday.
"We feel desperately sorry for those who took out lump sum payments and we will do what we can to accommodate them in new membership packages," said Mr Simpson.
"But any new business could simply not afford to honour existing memberships."
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