The impact of the coronavirus crisis and epidemic is now visible and has started to reflect on the world economy. Gold’s gym, one of the most popular gym and considered the favorite of bodybuilders globally, is closing its shutter. Some gyms are expected to shut in India as well.
Gold’s Gym has been the world’s trusted fitness authority for more than 50 years, and we’re absolutely not going anywhere. View an update on our business and future plans from our President & CEO Adam Zeitsiff at https://t.co/BKpEJxwILy pic.twitter.com/87Hnkb53YB
— Gold’s Gym (@GoldsGym) May 4, 2020
Gold’s gym is the second major company to file bankruptcy protection in the USA. Before this, renowned fashion brand J-Crew has also filed bankruptcy protection. Gold’s gym has decided to shut down at least 30 gyms in several different locations. The company runs more than 700 gyms worldwide, mostly franchises, under the name of Gold Brand.
For preventing the spread of coronavirus, worldwide lockdown is imposed, which has led to a ban on all non-essential functions. In such a situation, it has become difficult for people to leave the house. Almost every outdoor activities like Gym, Spa, swimming pools and other training facilities got shut down.
“Our business got severely damaged due to the Coronavirus epidemic crisis, which required us to take immediate and decisive steps so that we could rise again,” the company’s CEO Adam Zitsiff said in a video statement.
Rise of online trainers
There has been a significant rise in subscription to online gym trainers and dietitians these days. In the situation of lockdown, many health-conscious youths and people of different ages are exercising at home. For this, they are joining the gym trainers on Facebook Live and video conferencing. Such people are exercising for a few hours in the morning and evening under the direction of the online gym trainer. Along with this, efforts are also being made to take full care of what is told by the trainer, which will increase immunity and remain body fit.