PE-Backed YogaWorks Files for Bankruptcy, Will Shut All Studios

YogaWorks Inc., the yoga studio chain owned by Great Hill Partners, filed for bankruptcy late Wednesday with plans to close all of its studios and sell its online business to Serene Investment Management.

Pandemic-driven studio closures and capacity limits have created “unprecedented challenges” for the chain, Chief Executive Officer Brian Cooper said in a statement. YogaWorks has more than 55 studios in the U.S., according to its website.

YogaWorks joins a growing roster of bankrupt health and fitness chains, following the likes of 24 Hour Fitness Worldwide Inc., New York Sports Clubs parent Town Sports ...