Covid-19 has thrown the gymnasium trade right into a tailspin, wreaking havoc on a number of the largest names in health together with Gold's Gymna
Covid-19 has thrown the gymnasium trade right into a tailspin, wreaking havoc on a number of the largest names in health together with Gold’s Gymnasium and 24 Hour Health, which each needed to file for chapter safety.
Planet Health additionally has needed to shut its doorways for months however not like its rivals, the corporate is poised to dash previous the competitors as soon as the pandemic ends.
Gyms had been pressured to close down in March 2020 to attempt to curb the unfold of Covid-19, crippling the health trade, which is a $32 billion market within the U.S., with greater than 41,000 gyms and 64 million members. In some states, gyms had been among the many final companies allowed to reopen.
Earlier than the coronavirus pandemic hit, Planet Health reported 53 consecutive quarters of constructive same-store gross sales development. However analysts say that with out the rollout of a vaccine, it could possibly be till the tip of 2021 earlier than the corporate reaches pre-pandemic ranges of profitability. The corporate has not offered any steering on its enterprise for the remainder of the yr.
So regardless of the dire state of affairs within the gymnasium trade can Planet Health truly come out forward? And what does social distancing imply for the way forward for figuring out?