Barrecore and Boom Cycle owner suddenly shuts studios
The fitness company behind high-end brands Barrecore, Boom Cycle, and Kobox has abruptly closed all its London locations, leaving members and instructors stranded.
Stock photo for illustration only, not from the actual event
- Common Bond abruptly closes all wellness and fitness studios across London
- Members paying £2,400 for 12 annual unlimited class passes affected
- Instructors learned about the sudden closures via customer emails
- Company incorporated in June last year with no published accounts yet
The parent company operating high-end fitness brands including Barrecore, Boom Cycle, and Kobox has shocked members and staff by shutting down all its studio locations in London without warning. Common Bond emailed its customer base to announce that all of its sites, currently situated in London, are closed until further notice.
Positioning itself as a wellness collective, the firm charges £2,400 for a 12-month membership granting unlimited class access. The company also oversees the Reformcore and Triyoga brands, having previously stated in August of last year that it operated a total of ten sites.
Stock photo for illustration only, not from the actual event
The email sent to patrons on Wednesday expressed regret over the inconvenience and disruption caused, acknowledging customer frustration while asking for patience as they navigate the situation. Meanwhile, the company's official website is no longer publicly accessible, and the BBC has reached out to Common Bond for an official statement.
On the staffing side, instructors informed the BBC that they were notified just last week regarding delayed paychecks, only to discover the studio closures through the Wednesday email sent out to clients. One instructor shared that she and her peers were told their pay would be postponed on its scheduled due date of August 14.
"In good faith, I continued to teach my classes without any news on when or if payment would be made. I have heard absolutely nothing since."
Unnamed Instructor
The exact number of customers and instructors impacted by this sudden shutdown remains unconfirmed. According to filings with Companies House, Common Bond was incorporated in June last year and has not yet published any financial accounts.
The abrupt collapse of such high-profile boutique fitness studios highlights the fragile financial reality of the wellness sector. Although brands like Barrecore leverage strong popularity from low-impact disciplines combining pilates, ballet, and yoga alongside celebrity endorsements, managing cash flow and overhead costs remains a severe challenge for expanding fitness collectives operating prime real estate locations in London.
Recent regulatory filings indicate leadership shifts, showing that director Ben Allen stepped down from his role last month. Gaspar Lipszyc, listed as a Belgian national residing in Spain, currently remains the sole director on record for the company.
Source: BBC Health
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