The impact of the Covid-19 crisis is having a significant effect on small businesses and leaving companies to have to make hard financial decisions. The fitness industry is feeling the full effect; the fitness studio group Solidcore has laid off 98 percent of its employees. CEO and founder Anne Mahlum announced the decision in a press release sent March 19.
The news comes as a result of COVID-19. Through Monday, March 16th, the company’s 72 studios were open, taking precautionary measures like increased disinfecting and reduced high-fives. Then on Tuesday, they closed all locations — including their three in the Indianapolis area — and suspended all memberships due to coronavirus-related mandates from “many state and local government officials,” according to their website.
Up until today, the group had 137 full-time employees, 97 part-time employees, and 397 studio coaches. The group will now employ only 13 people who will receive reduced salaries, according to the press release. Mahlum will no longer receive a salary. Employees will be paid through March and will have health care through April, according to the press release.
Mahlum founded Solidcore in DC in 2013. The group has 72 studios throughout the country, although they are now all temporarily closed because of the Covid-19 crisis. For now, the group is streaming online workouts via a YouTube channel.