Gyms that filed for bankruptcy, Business Insider reports, include Cyc Fitness, YogaWorks, Flywheel Sports, Town Sports International, 24 Hour Fitness, Gold’s Gym, and Modell’s Sporting Goods.Īttitudes toward exercise have changed, RunRepeat’s Rizzo writes. Some 500,000 gym industry employees have been laid off because of COVID-19, Harrison finds, as more people have decided to work out at home.Īmericans had invested an average of $95.79 for at-home fitness as of spring 2020, Freeletics reports, and, says Visual Capitalist, 60% of gym members working out at home workouts plan to cancel their gym memberships. “Once stay-at-home guidelines are lifted, consumers will continue to work out at home in numbers far beyond anything we saw prior to the crisis.” “The difficult economic circumstances currently faced by gyms and health clubs will not disappear once the crisis ends,” said Paul Byrne, a partner at Harrison Co., told businesswire. have been closed because of the virus as of May 2020, Harrison Co., a consumer-focused investment bank, says in a study. More than 38,000 gyms and health clubs in the U.S. Suppressive business lockdowns and stay-at-home orders in response to the pandemic is killing the fitness industry, fitness experts say. Masks are required, even while working out, according to his executive order. Roy Cooper closed gyms in March but allowed them to reopen at limited capacity several months later.
It’s also estimated the gym and health club industry lost $13.9 billion from mid-March to Aug 31, according to data compiled by the International Health, Racquet & Sportsclub Association.
The global pandemic is the biggest disruption the fitness industry has ever faced, writes Nick Rizzo of RunRepeat, which specializes in shoes for athletes and studies the fitness industry. will close by year’s end, a new study shows.
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