SoulCycle closing multiple studios across U.S.
After years of expansion, few would have predicted that the fitness chain that helped popularize boutique indoor cycling would now be facing another round of studio closures across the U.S.
Founded in 2006 in New York City, SoulCycle grew from a single studio with a small number of bikes into one of the most recognizable fitness brands in the industry.
Its signature 45-minute rhythm-based indoor cycling classes, set to curated music playlists and built around instructor-led experiences, attracted a devoted customer base and helped expand the company to more than 60 locations across the U.S., Canada, and the U.K.
Now, SoulCycle appears to be continuing a yearslong effort to reduce its physical footprint.
SoulCycle is closing multiple studios nationwide
Several SoulCycle locations are scheduled to close on June 14, according to local reporting and employee communications reviewed by TheStreet.
The affected studios include:
- Walnut Creek: 116 Broadway Lane, Walnut Creek, California (reported by Walnut Creek Spotlight)
- La Jolla: 4303 La Jolla Village Dr, Suite 2110, San Diego, California (based on an employee post)
- Denver: 265 St. Paul St, Denver, Colorado (based on an employee post)
- Bryant Park: 110 W 41st St, New York, New York (based on an employee post)
- Manhattan Beach: 820 Pacific Coast Hwy #106, El Segundo, California (based on an employee post)
- South Beach: 2325 Collins Ave, Miami Beach, Florida (based on an employee post)
SoulCycle has not publicly announced the closures.
However, employees at several affected studios have reportedly received notices regarding the shutdowns. Additional closures have circulated in online discussions, although no further studio shutdowns have been officially confirmed at the time of publication.
TheStreet contacted SoulCycle for comment and will update this story if a response is received.
Why is SoulCycle closing locations?
The latest closures come during a period of leadership transition and continued pressure across the fitness industry.
Earlier this month, SoulCycle announced that CEO Evelyn Webster would step down after nearly six years to become chief executive of podcast company Audiochuck, according to a company press release.
The leadership change follows several years of broader restructuring across the business.
Like many fitness companies, SoulCycle faced major disruptions during the Covid pandemic, when many operators temporarily suspended in-person classes due to stay-at-home orders, prompting a rapid shift in consumer workout habits.
Its parent company, Equinox Group, reportedly recorded approximately $350 million in losses during 2020 tied to pandemic-related disruptions, Bloomberg reported.
SoulCycle has also reduced its physical footprint in recent years. In 2022, the company closed 20 studios, roughly one-quarter of its locations at the time, as part of broader operational changes, reported CNN.
While SoulCycle has not publicly linked the current closures to any specific reason, the move aligns with an industry-wide push to balance operating costs with changing consumer demand.
The fitness business continues to evolve
SoulCycle's challenges reflect broader shifts across the fitness market rather than changes isolated to a single company.
Peloton (PTON), one of SoulCycle's best-known competitors in cycling-based fitness, built its business around connected equipment and instructor-led classes delivered at home rather than in physical studios.
The company experienced rapid growth during the pandemic as demand for at-home workouts and digital fitness subscriptions surged.
But as restrictions eased and consumers returned to gyms and in-person experiences, growth slowed significantly.
Here's some of my previous coverage on closures:
- Iconic gym chain shuts down 23 locations
- Convenience store giant sells stores, exits market
- 102-year-old fashion giant faces 400 store closures
Since 2021, Peloton has focused heavily on restructuring efforts.
In fiscal 2025, the company reduced overall expenses by 25%, cutting spending across sales, marketing, research and development, and administrative operations. It also reduced its retail footprint, closing 24 of 37 showrooms.
In 2026, Peloton announced additional cost-cutting measures, including workforce reductions affecting approximately 11% of employees globally, Reuters reported.
Although Peloton recorded a 1% year-over-year increase in total revenue during the third quarter of fiscal 2026, membership trends remained under pressure, with total members declining 5% and paid app subscriptions falling 9%.
Industry participation data suggests consumer preferences may also be changing.
According to a 2025 report from the Sports and Fitness Industry Association (SFIA), pilates saw one of the fastest growth rates among fitness activities over the previous five years, increasing nearly 40% since 2019.
Meanwhile, cycling participation experienced one of the largest declines among tracked activities, down 33.5% during the same period.
That does not necessarily mean cycling fitness is disappearing. But the data suggest that fitness operators across both studios and at-home categories are adapting to a market where consumer habits look different from those during the previous decade of growth.
Related: After bankruptcy, iconic seafood chain closes flagship restaurant
The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
This story was originally published June 12, 2026 at 5:51 PM.