These two main gymnasiums have just filed bankruptcy
Similar to the restaurant industry, well-loved fitness companies are happy with the pandemic.
Restaurants andgrocery stores are not the only companiesgoing bankrupt Due to the pandemic - your favorite gyms and fitness chains also take a massive shot.
According toInternal business communityThere is now a growing list of exercise companies that have deposited the bankruptcy of Chapter 7 or 11 of this year.Cyc Fitness, a popular cycling chain owned by Cyc Holdings in Delaware, deposited in Chapter 11 earlier this month, as well as Yogaworks, an indoor yoga chain in California. Yogaworks also announced that it closed all 55 of its national pitches (after having already closed all stains in New York in New York in April.)
Like your restoration chains, gymnasiums and indoor fitness facilities independently.forced to close In most parts of the country because of the coronavirus pandemic. Americans who rely on these companies have been forced to find new ways ofat homeAnd many gymnasiums are lazing customer membership contributions during these difficult times. (In touch:9 catering chains that closed hundreds. places this summer.)
Now, even though parts of the United States have reopened, many fitness companies still have trouble making ends. They must compensate for months of loss of income and try to encourage customers to come back. But, working with foreigners inside, even at limited capacity - is a risk that many people do not want to take to date.
For these reasons, the gymnasiums are folding left and right. Cyc Fitness and Yogaworks Join these other institutions thanFlying sports, who deposited Chapter 7 and closed all his 42 cycling studios across the country,City Sports International, which has New York sports clubs and Boston sports clubs and deposited the bankruptcy of Chapter 11,Fitness 24 hours a day, which filed for Chapter 11 and Farm 130 of its national locations, andGym, who filed Chapter 11 and closed 30 locations on 700.
"If it was not for Covid-19 and its devastating effects, we would not be deposited in Chapter 11," said the CEO of 24 hours, Tony Ueber, said in a statement, according toInternal business community. Unfortunately, most of the gymnashes above have probably have probably found themselves in the same exact position. And there may be more to add to this list over time.
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