However, the battle to save the battered American health and fitness industry continues. US Congressmen Mike Quigley and Brian Fitzpatrick proposed a new Health and Fitness Recovery Act in 2020 to help the American fitness industry avoid the "devastating impact" of the epidemic.
The main content of the bill will be to establish a $30 billion recovery fund for the industry. This will provide funds for the enterprise to make up for the loss of 10% of the maximum income in the previous year, that is, 100000 USD (whichever is less).
Recipients will be able to use subsidies for wages, utilities, maintenance, supplies, mortgage debts and rent.
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The American fitness industry has long been overwhelmed.
As early as the beginning of May this year, Gold's Gym, a veteran American fitness giant that has operated for more than half a century, took the lead in filing for bankruptcy protection and permanently closed its 32 stores. In a related bankruptcy document, its total liabilities were $65,438 billion. Two months later, Gaud's gym was acquired by German fitness brand RSG Group for $ 1 billion.
Anytime Fitness, another fitness giant, closed down in June, which was the worst epidemic in the United States. Although at the beginning, its 24-hour fitness only announced the closure of its 130 gym directly operated in the United States, there were no eggs under the nest.
Anytime Fitness Asia, which accounted for 30% of the total, was also acquired by the Asian consortium Inspire Brands Asia(IBA). At present, after the change of ownership, there are more than 250 stores in China, Singapore, Malaysia and other parts of Asia, mainly in franchise mode.