June 5, 2020

064 – Gyms Filing for Bankruptcy

As some gyms and fitness clubs emerge from lockdown and begin to re-open, others facing mounting debt obligations are unfortunately pursuing another path.  With stay at home orders and non-essential business mandated closings, some fitness chains were left with essentially no cash flow from memberships.  Even with the reopening of the economy, social distancing measures fundamentally change the way health clubs operate on a daily basis.  While hopefully these are temporary changes, the cumulative toll on gym revenue has led to bigger problems.  In this episode, we take a look at several fitness club chains filing for bankruptcy amidst the pandemic backdrop - and what that means for their future.  And, even for those gyms not facing bankruptcy right now, can they stem membership cancelations as they get back to “normal?”

Timestamp

Topic


Intro

1:14

Retail Bankruptcies


Gym and Fitness Industry

3:40

   - Golds Gym

7:57

   - 24 Hour Fitness

12:37

   - Town Sports International

14:58

Creative Home Workouts

18:40

Summary

Anonymous

"If it doesn’t challenge you, it doesn’t change you."

ABOUT THE AUTHOR

Hello, I'm Christopher Allen and I'm passionate about helping people become a better version of themselves - physically, emotionally, spiritually, financially, intellectually, and culturally. Feel free to follow me on IG. You can read more about my story here.

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