What Impact Will Fitness Center Bankruptcies Have on Commercial Real Estate?
Governments forced many non-essential businesses to close to help slow the spread of the COVID-19 outbreak, including fitness centers. That caused significant financial strain for many gyms. Because of that, several are turning toward bankruptcy to help ease their financial burdens. Gold`s Gym has already filed, while 24 Hour Fitness is preparing to do so.

One of the financial weights that fitness centers are hoping to lift in bankruptcy is their lease obligations. That`s already starting to have a significant impact on commercial real estate companies that lease space to these fitness center operators...

RSK: I know my health club (small locally owned) is nowhere near back to normal...no showers, outdoor classes indoor ones have maybe 5 people and try to do a workout inside with a mask...almost impossible. You go in and maybe 5 people in the whole place...including workers. They have even cut their monthly dues in half which I will gladly pay to help keep them afloat. For the large chains...it may be a bit tougher.

- - Volume: 8 - WEEK: 25 Date: 6/16/2020 10:16:11 AM -