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

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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.”

 

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