Fitness industry on verge of collapse as gyms remain shut under lockdown

  • 📰 IOL
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Malaysia News News

With no clear indication as to when gyms will reopen, the industry fears a total collapse. It’s expected that around 80% of gyms are likely to shut down permanently, with massive job losses, should gyms continue to remain closed.

It’s expected that around 80% of gyms are likely to shut down permanently, with massive job losses, should gyms continue to remain closed.

While there have been no job losses as yet at Planet Fitness, Rivera said this was likely if the ban continues. "Because we have an A grade reputation with banks and landlords, we've received a lot of support from landlords and banks and this has been able to put us in a liquid position to see us through and we remain bullish.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines