Flywheel Closing Some Cycling Studios as It Chases Peloton
A Flywheel Sports spin class in Boston, Mass.
Photographer: Dina Rudick/The Boston Globe via Getty Images
Flywheel Sports Inc. is shutting down more than a quarter of its cycling locations, the latest sign that boutique fitness studios are struggling to keep up with home exercise products like those from Peloton Interactive Inc.
New York-based Flywheel said it will shutter 11 of its 42 locations. All four studios in Los Angeles will close this month, in addition to those in Alpharetta, Georgia; Austin, Texas; North Miami, Florida; and the San Francisco area locations in Sunnyvale and Walnut Creek, California, said a Flywheel spokesman. “We decided to take a look at our national footprint and close studios that were under-performing,” he said. “All riders impacted will be offered a full refund.”