After seeing the news of J. Crew filing for bankruptcy, I saw this news about Gold’s Gym.
Gold's Gym has filed for bankruptcy protection after closing locations amid coronavirus https://t.co/lovuCfY3vO
— Business Insider (@businessinsider) May 4, 2020
The fitness industry has been hit especially hard by this lockdown because states have declared gyms to be a major virus safety hazard.
Gold’s Gym already had to close several gyms across the country and I guess this is part of some restructuring plan they have. But all those gym closures combined with this bankruptcy filing are going to result in many lost jobs.
It will be interesting to see how many more bankruptcies we see over the next month or so but I expect there to be many. States are unveiling these ridiculous phased reopening plans and there’s all sorts of uncertainty about what any of that even means.
