business of yoga YogaWorks Files for Bankruptcy, as Yoga Industry “Brought to...

YogaWorks Files for Bankruptcy, as Yoga Industry “Brought to Its Knees” by COVID-19

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YogaWorks, one of the largest yoga chains in the world, with more than 60 studios across the country, filed for bankruptcy on Tuesday, according to a press release. The Chapter 11 petition ordered the permanent closure of all remaining YogaWorks brick-and-mortar studios in the United States as a result of the financial burden of the ongoing coronavirus pandemic, according to the release.

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“The COVID-19 pandemic has created unprecedented challenges for our industry and business, including mandatory studio closures and social distancing-imposed attendance restrictions even where studios have been permitted to reopen,” YogaWorks CEO Brian Cooper said in a statement. The company will continue its business operations exclusively through its digital platforms, offering livestream and on-demand education and instruction, which includes more than 40 YogaWorks Live classes daily and more than 1,000 hours of pre-recorded sessions and workshops, as well as virtual teacher trainings. YogaWorks’ digital operations have turned a profit and continue to display growth, according to the statement. 





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