YogaWorks

YogaWorks offered yoga as therapy, teacher trainings, and sold yoga pants and accessories. In 2020, the company filed bankruptcy and sold its assets.

YogaWorks
IndustryYoga
Founded1987 (1987)
FoundersMaty Ezraty and Chuck Miller
Headquarters
Culver City, California, U.S.
,
United States
ServicesYoga as therapy

History

By 2008, the company had 21 yoga studios.[1]

In 2014, the company, which then had 29 yoga studios, was purchased by Great Hill Partners for $45 million.[2]

In 2016, the company's studios had 3 million student visits.[3]

In August 2017, the company became a public company via an initial public offering. At that time, it had 50 studios.[3]

In November 2017, the company had 66 yoga studios in eight U.S. markets: Los Angeles, Orange County (California), New York City, Northern California, Boston, Baltimore/Washington D.C., Atlanta, and Houston.[4]

In October 2019, Rosanna McCollough resigned as CEO of the company and Vance Chang resigned as CFO. Brian Cooper was appointed CEO.[5]

On November 18, 2019, YogaWorks New York teachers voted 'yes' by an overwhelming majority to unionize,[6][7][8][9] an initiative that was supported by Bernie Sanders,[10] Chuck Schumer,[11] and Elizabeth Warren.[12]

In October 2020, during the height of the COVID-19 pandemic, the company filed bankruptcy and closed all of its locations.[13][14]

Its assets were purchased by GoDigital Media Group for $9.6 million.[15]

References
  1. Duxbury, Sarah (October 31, 2008). "Yoga Stretches Into the Bay Area". American City Business Journals.
  2. "YogaWorks Acquired by Private Equity Firm". EZFacility. July 25, 2014.
  3. "YogaWorks, Inc. Announces Pricing of Initial Public Offering" (Press release). Globe Newswire. August 10, 2017.
  4. "YogaWorks Acquires Four Premier Studios in Atlanta". Globe Newswire. November 14, 2017.
  5. "FORM 8-K". U.S. Securities and Exchange Commission. October 4, 2019.
  6. Unionize Yoga (November 18, 2019). "YogaWorks New York teachers voted YES to come together as a union!". Instagram. Archived from the original on 2021-12-26.
  7. Moynihan, Colin (September 11, 2019). "The Yoga Instructors vs. the Private Equity Firm". The New York Times.
  8. Jones, Sarah (September 12, 2019). "Yoga Teachers Are Unionizing to Heal the Wellness Industry". The Cut / New York Magazine.
  9. Pfeiffer, Sacha (October 12, 2019). "Yoga Instructors Are Unionizing". NPR.
  10. Sanders, Bernie. "Workers of all backgrounds are standing up for their rights. That includes yoga teachers, who are facing down shameful anti-union propaganda from their Wall Street owners. This is exactly the kind of energy we need to rebuild the middle class. Sanders". Twitter.
  11. Unionize Yoga (September 11, 2019). "Thank you @chuckschumer for your support!". Instagram. Archived from the original on 2021-12-26.
  12. Unionize Yoga (September 16, 2019). "Elizabeth Warren supports @unionize_yoga!". Instagram. Archived from the original on 2021-12-26.
  13. DiMartino, Mediha (October 19, 2020). "YogaWorks Files for Bankruptcy". Los Angeles Business Journal.
  14. Rice, Andrea (October 15, 2020). "YogaWorks Files for Bankruptcy, as Yoga Industry "Brought to Its Knees". Yoga Journal.
  15. "YogaWorks, Inc., a Delaware C-Corporation – Court Approves $9.6mn ($7.3mn Cash Consideration) Asset Sale to MEP Capital/GoDigital Entity The YW Company - Daily Bankrupt Company Updates". Bankrupt Company News. December 28, 2020.
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