Uglyrichie
Banned
Yep but if they bankrupt who knows I doubt around here they will the one I go to is always packed you half to hit it just right depending on what ur doing. I wanna say they own the building so they will always be a sport.
MESO-Rx
Anabolic Steroids
Gym Closure News.
- Thread starter flenser
- Start date
Steve Nash Fitness Clubs and UFC Gym parent company files bankruptcy protection
SNFW Fitness B.C. Ltd., which operates 27 facilities under Steve Nash and UFC Gym brands, owes more than $35 million to more than 140 creditors.
In a letter to creditors, company management said the COVID-19 pandemic has had a significant economic impact on the chain’s business, however court documents suggest the company owed significant debts prior to the coronavirus outbreak in B.C.
[...]
SNFW Fitness’s largest creditor is the Bank of Montreal, which is owed $32 million, according to court documents.
Another 141 creditors are collectively owed $3.4 million. They include Google (owed more than $136,000) and Facebook, Inc. (owed nearly $182,000).
Larger local creditors include Burnaby-based Matra Construction Inc. (owed more than $820,000), Sandman Hotel Group (owed more than $94,000) and Fortis BC (owed more than $72,000).
Vancouver-based Worldgo Travel Management Ltd. is owed $25,242.64. The company booked SNFW Fitness's corporate travel, and co-founder Eric Sakawsky says the roughly two-year business relationship was all-in-all okay.
Source: Steve Nash Fitness World seeks creditor protection owing $35MIn a letter to creditors, company management said the COVID-19 pandemic has had a significant economic impact on the chain’s business, however court documents suggest the company owed significant debts prior to the coronavirus outbreak in B.C.
[...]
SNFW Fitness’s largest creditor is the Bank of Montreal, which is owed $32 million, according to court documents.
Another 141 creditors are collectively owed $3.4 million. They include Google (owed more than $136,000) and Facebook, Inc. (owed nearly $182,000).
Larger local creditors include Burnaby-based Matra Construction Inc. (owed more than $820,000), Sandman Hotel Group (owed more than $94,000) and Fortis BC (owed more than $72,000).
Vancouver-based Worldgo Travel Management Ltd. is owed $25,242.64. The company booked SNFW Fitness's corporate travel, and co-founder Eric Sakawsky says the roughly two-year business relationship was all-in-all okay.
master.on
New Member
Exactly.
They were up to their eyeballs in debt long BEFORE the coronavirus.
(Most bodybuilders are broke, so there's no money to be made there?)
Villain
Member
Enter “gay 4 pay” lol
It's usually a bad idea investing in the gym industry, but it's pure folly loaning them money.
This is why I'm intent on continuing to piece together my own home gym. I will be watching for the gyms that close to have equipment auctions though. I'm a member at Anytime Fitness and my state just keeps moving the stay at home order further out. There really isn't a set date for any of the gyms to open. Anytime's are a franchise so I'm wondering how long individual owners will be able to hold on. They've been pressured to stop billing members. These gyms are small so their revenue really can't be that large. It's sad to me, I like the gym I was going to. The owners are really nice people.
HIGHRISK
Member
With many many more to follow. Seems like a lot of businesses were fully leveraged before this and now this was the nail in the coffin. Dave Ramsey always says When the tide goes out you’ll know who’s skinny dipping.
Worf
Member
Golds gyms closed in my area before the state mandated anything. A lot of places did this and Now they are going to close locations or are asking for handouts from the government. I think too many people based these massive business decisions on conjecture by uninformed scientists and have caused huge economic casualties. As a nation and as a sub culture the fitness industry should really be looking at why the government has so much power over our lives instead of looking for handouts
Worf
Member
We better not be bailing these shit businesses out like we did the banks, let em fall and allow the free market to pick up the slack.
Btcowboy
Member
My small gym is reopening May 15 with or without the government go ahead. I just re upped 4 months before the they closed and they froze the date to resume when we start back up.
The issue for me is I really like that gym, and the owners. But I just spent 3k on setting up a home gym. Feel bad because they need all the support they can get. I am not rich and my wife will loose her mind if I dont use my equipment I just bought. Now I am just 1 member and not going to be a huge loss for them but how many others did the same.
The issue for me is I really like that gym, and the owners. But I just spent 3k on setting up a home gym. Feel bad because they need all the support they can get. I am not rich and my wife will loose her mind if I dont use my equipment I just bought. Now I am just 1 member and not going to be a huge loss for them but how many others did the same.
Btcowboy, I am very curious about your situation. Can you please list the website you purchased your $3K worth of home gym equipment from ? Also, can you post the links to the individual pieces of equipment you purchased ? I am not sure when, if ever, my gym is ever gonna reopen and I have held off so far on buying home gym equipment. But if it never reopens, obviously I'll have to purchase my own home gym.
Here is some equipment I really really like a ton and will buy for myself if necessary....have always been a massive fan of Precor equipment. My gym is 100% Precor.
Used Precor Icarian Power Cage
Used Precor Icarian Angled 45 Degree Plate Loaded Leg Press
Used Precor Icarian Adjustable Incline Bench
Refurbished Precor Icarian 6 stack Multi Station
Used Precor Icarian 2 tier 10 pair Dumbbell Rack with Saddles
Btcowboy
Member
I am in Canada, and its a Canadian company. Its Fitness Depot if you are. Its not the best quality but does the trick. Northern Lights is the brand
I ended up with
Squat Cage
FID bench
SSB
Oly Bar
DB handles
Hex collars
8 45s
2 35s
4 25s
4 10s
4 5s
2 2.5s
I find myself in the exact same situation, (with the exception of paying 4 months in advance) but the equipment is in the home now..
I checked out the local Fitness Depot myself, and I was looking at the Northern Light line but chose not to wait the 4-5 months for them to order..
Breaking News from a couple minutes ago. Not the news I wanted to hear but the not the worst news either. Sounds like Texas will be reopening gyms very very soon.
Restaurants, Malls, Retail Stores Can Reopen May 1, Bars, Gyms Later, Abbott Says
Thank you for the heads up on the equipment brand and pieces you purchased.
On a side note, the only thing that will make me happier than the gym reopening will be when the Dallas Cowboys win the Super Bowl for the 2020 Season and the Eagles finish 5-11 and last place in the NFC East.
Phuck Philly. Go Cowboys !!
Restaurants, Malls, Retail Stores Can Reopen May 1, Bars, Gyms Later, Abbott Says
Thank you for the heads up on the equipment brand and pieces you purchased.
On a side note, the only thing that will make me happier than the gym reopening will be when the Dallas Cowboys win the Super Bowl for the 2020 Season and the Eagles finish 5-11 and last place in the NFC East.
Phuck Philly. Go Cowboys !!
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Btcowboy
Member
Yeah they are backlogged, I got some in 2 weeks, some will come at about the 5 weeks mark, and an upgrade I am doing will be at the 8 week mark... right now trying to do something with just plates an SSB and a bench lol. Just did bent over barbell rows with an SSB was interesting to say the least.
notdeadYET
Member
Not soon enough IMO. That's the problem of having a Governor that always skips leg day.
Worf
Member
21 day and a maybe at that won’t have me voting Abbott next election.
Yea I went for a powertec set up that I could get right away.. took a week to find plates but I got lucky a couple of times, and now I have almost 700lbs worth..
SSB bent over rows eh.. lol.. Gotta be creative at a time like this.. #Makinitwork
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PaulHeyman
Member
If my gym said that I would be doing backflips on the roof
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