If there was an industry you didn’t want to be invested in during the worst of the Covid pandemic, it was the fitness business. Amid hard lockdowns that temporarily shuttered operations — and with fitness fans turning to outdoor exercise for fear of indoor contagion — closures, bankruptcies, job losses and plunging memberships at gyms became common.
In the US alone, clubs and fitness studios lost about $15bn in 2020, according to the Global Health & Fitness Association.PremiumA subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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