Monday, June 28, 2010

Adding Muscle - Equinox Holdings Looks Overseas For Growth While Other Gyms Struggl

“Planning a trip to China? Better pack workout gear. Equinox Holdings Inc., which operates 20 fitness and yoga centers in New York City, is in expansion mode, and that includes straddling the globe from Canada to Asia. Equinox is bulking up not only with overseas expansion, but also with its domestic yoga centers and its own branded apparel, at a time when other gyms are losing strength. National health-club membership declined 0.4% to 45.3 million last year compared with 2008, according to the International Health, Racquet and Sportsclub Association. During the recession, clubs such as Bally Total Fitness and Crunch filed for bankruptcy and closed outposts. Additionally, Town Sports International, which owns New York Sports Clubs, has amassed a debt load of nearly $320 million, making it difficult to grow...

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