GET HCM
magazine
Sign up for the FREE digital edition of HCM magazine and also get the HCM ezine and breaking news email alerts.
Not right now, thanksclose this window
Active IQ
Active IQ
Active IQ
Follow Health Club Management on Twitter Like Health Club Management on Facebook Join the discussion with Health Club Management on LinkedIn Follow Health Club Management on Instagram
UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Psycle to close Canary Wharf studio in June – blames delays in Crossrail project

With Crossrail suffering one setback after the next and the subsequent loss of footfall, trading conditions have continued to be more difficult than we had anticipated
– Rhian Stephenson

Boutique indoor cycling operator Psycle has written to its members, announcing plans to close its studio at Canary Wharf in London.

In an emailed letter, CEO Rhian Stephenson said she was "saddened to announce" the closure and blamed it on the delays in the Crossrail project – and the knock-on effect they have had on footfall.

"I’m writing to let you know of an important change happening at Psycle," she wrote.

"On June 20th, we will be closing the Canary Wharf Studio.

"Since launching in June 2016, the success of Canary Wharf has largely depended on the promise of Crossrail.

"With one setback after the next and the subsequent loss of footfall, trading conditions have continued to be more difficult than we had anticipated.

"This has forced us to reconsider our options and ultimately led to this unfortunate decision.

"Although we are closing this studio, Psycle still has plans to grow and we’ll be announcing our next new studio shortly, so stay tuned for more information.

"To our incredible Canary Wharf community, thank you for your passion and energy!"

Canary Wharf is the financial heart of London and a potentially lucrative location for premium health clubs due to the large number of high-net-worth individuals.

It is, however, a highly competitive market, with Virgin Active, Third Space, Nuffield Health, Reebok CrossFit and a number of other operators contesting it for footfall.

Psycle was founded in 2013 and opened its first studio on London's Mortimer Street in February 2014. That was followed by the launch of the Canary Wharf site and further studios in Shoreditch and Clapham.

In an interview with HCM in January 2018, current CEO Rhian Stephenson said the company had secured £3m (US$4.1m, €3.4m) of investment and planned to double its presence in London – and was considering "expanding beyond the UK".

To read the full interview with Stephenson from January 2018, click here.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Boutique indoor cycling operator Psycle has written to its members, announcing plans to close its studio at Canary Wharf in London.
HAF,FIT,IND,PTS
imagesX/THUMB342006_731172_47234.jpg
Latest News
The government needs to urgently set out its plans to support physical activity and fitness ...
Latest News
Glofox will begin offering health clubs, gyms and fitness studios instant access to financing, following ...
Latest News
Hong Kong-based Bricks Group has revealed plans to launch its health club chain, U Time, ...
Latest News
A £30m luxury leisure development scheme which has been more than a decade in the ...
Latest News
Apple has previewed its much-awaited watchOS 8, the operating system for its Apple Watch. The ...
Latest News
Chinese health club chain Supermonkey has finalised a series E funding round, valuing the company ...
Latest News
Gymbox has signed a partnership agreement to provide members of flexible workspace provider WeWork with ...
Latest News
The number of health club members returning to gyms since lockdown has beaten all expectations, ...
HCM Magazine
Sponsored
Welcome to the world of creative fitness, where exercise and fun merge to change the way we train
HCM Magazine
HCM People
We see a world where every major city has access to Solo 60
HCM Magazine
Talking Point
Consumer research has shown a population-wide surge in interest in reducing lockdown weight gain and getting fitter. Is the industry ready and willing to put its hand up to help people with weight loss? Kath Hudson reports
HCM Magazine
Sponsored
Daniel Jones is the brains behind Orbit4, the world’s first digital ecosystem to manage and facilitate the entire commercial fitness product cycle. We caught up with him at Orbit4 HQ in Cheshire
HCM Magazine
HCM people
Once we grow beyond Manchester we’ll go head to head with Equinox and Third Space
HCM Magazine
Sponsored
HCM Magazine
Town planning
Over time, town planning has led to the creation of obesogenic environments, but Hamilton in New Zealand is taking a fresh approach to mobilising its population, by turning the city into a playground, as Kath Hudson reports
HCM Magazine
HCM magazine
CV kit has been fully connective for some time, but with the rise of the hybrid gym goer, what are strength suppliers doing to meet the demand for a fully connected offer?
HCM magazine
Choosing the right flooring is critical for gym and health club operators. Suppliers share their latest news, tips and product launches to help you choose wisely
HCM magazine
Physical activity gives structure and meaning to people’s lives, according to new research
Opinion
promotion
While much of the fitness industry has reopened its doors across the UK over the past weeks, many members are yet to return.
Opinion: Re-engaging your post-lockdown absent members
Featured supplier news
Featured supplier news: INEOS: The future of hand-sanitising
As gyms begin to reopen, cleanliness and hygiene remain an essential part of ensuring staff and members are confident to return.
Featured supplier news
Featured supplier news: First digital ecosystem for fitness equipment is launched after £300,000 funding boost
Orbit4 is the first digital ecosystem that manages and facilitates the entire commercial fitness product cycle.
Featured operators news
Featured operator news: Everyone Active bolsters Everyone on Demand and enters second year with five new partnerships
Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
Featured operators news
Featured operator news: Everyone Active generates £342m in social value
Award-winning leisure operator Everyone Active generated £342million in social value at its sites across the country in 2019/20.
Company profiles
Company profile: Les Mills UK
For over 50 years Les Mills has been leading the way in fitness to inspire ...
Company profiles
Company profile: Matrix Fitness
Matrix provides innovative commercial fitness equipment to facilities in all market sectors including private health ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Skincare
Comfort Zone - Davines S.p.A: Skincare
Red Light Therapy
 Red Light Rising: Red Light Therapy
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Exercise equipment
Pendex Fisio S.L.: Exercise equipment
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Fitness equipment
Octane Fitness: Fitness equipment
Management software
fibodo Limited: Management software
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Spa software
SpaBooker: Spa software
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Diary dates
13-14 Jun 2021
Online,
Diary dates
01-04 Jul 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
28-29 Sep 2021
ExCeL London, London, United Kingdom
Diary dates
04-07 Nov 2021
Exhibition Centre , Cologne, Germany
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates

News

Psycle to close Canary Wharf studio in June – blames delays in Crossrail project

With Crossrail suffering one setback after the next and the subsequent loss of footfall, trading conditions have continued to be more difficult than we had anticipated
– Rhian Stephenson

Boutique indoor cycling operator Psycle has written to its members, announcing plans to close its studio at Canary Wharf in London.

In an emailed letter, CEO Rhian Stephenson said she was "saddened to announce" the closure and blamed it on the delays in the Crossrail project – and the knock-on effect they have had on footfall.

"I’m writing to let you know of an important change happening at Psycle," she wrote.

"On June 20th, we will be closing the Canary Wharf Studio.

"Since launching in June 2016, the success of Canary Wharf has largely depended on the promise of Crossrail.

"With one setback after the next and the subsequent loss of footfall, trading conditions have continued to be more difficult than we had anticipated.

"This has forced us to reconsider our options and ultimately led to this unfortunate decision.

"Although we are closing this studio, Psycle still has plans to grow and we’ll be announcing our next new studio shortly, so stay tuned for more information.

"To our incredible Canary Wharf community, thank you for your passion and energy!"

Canary Wharf is the financial heart of London and a potentially lucrative location for premium health clubs due to the large number of high-net-worth individuals.

It is, however, a highly competitive market, with Virgin Active, Third Space, Nuffield Health, Reebok CrossFit and a number of other operators contesting it for footfall.

Psycle was founded in 2013 and opened its first studio on London's Mortimer Street in February 2014. That was followed by the launch of the Canary Wharf site and further studios in Shoreditch and Clapham.

In an interview with HCM in January 2018, current CEO Rhian Stephenson said the company had secured £3m (US$4.1m, €3.4m) of investment and planned to double its presence in London – and was considering "expanding beyond the UK".

To read the full interview with Stephenson from January 2018, click here.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Boutique indoor cycling operator Psycle has written to its members, announcing plans to close its studio at Canary Wharf in London.
HAF,FIT,IND,PTS
imagesX/THUMB342006_731172_47234.jpg

News

The government needs to urgently set out its plans to support physical activity and fitness
Glofox will begin offering health clubs, gyms and fitness studios instant access to financing, following
Hong Kong-based Bricks Group has revealed plans to launch its health club chain, U Time,
A £30m luxury leisure development scheme which has been more than a decade in the
Apple has previewed its much-awaited watchOS 8, the operating system for its Apple Watch. The
Chinese health club chain Supermonkey has finalised a series E funding round, valuing the company
FIBO Exhibition
FIBO Exhibition
Active IQ has launched two new qualifications – the Level 2 Diploma in Health and
Gymbox has signed a partnership agreement to provide members of flexible workspace provider WeWork with
The number of health club members returning to gyms since lockdown has beaten all expectations,
The Jumeirah Group has reopened the 186-room The Carlton Tower Jumeirah, in the heart of
David Lloyd Clubs has enrolled former Labour Party deputy leader Tom Watson to help raise
TRIB3 has secured a franchise deal which will see it open 20 studios across Belgium,
ukactive has published new data from the National ReferAll Database (NRD) – the UK’s first
Crown Sport Lockers (UK) Ltd
Crown Sport Lockers (UK) Ltd
L&R Kältetechnik has launched a new division, named artofcryo.com, after 30 years’ experience with -110
The US fitness industry is mobilising to support the Gym Mitigation and Survival (GYMs) Act,
Physical activity gives structure and meaning to people’s lives, according to new research. A study,
TRIB3 has opened a major new corporately owned boutique gym [or store in TRIBE3-speak] in
The Gym Group has outperformed all of its own expectations in the six weeks of
Irish health club chain West Wood Club is launching a new outdoor exercise concept at
Vegetables are more important than fruit in a healthy diet, according to new research from
Miha Bodytec GmbH
Miha Bodytec GmbH
As gyms begin to reopen, cleanliness and hygiene remain an essential part of ensuring staff
The World Health Organization (WHO) has launched a webinar series to explore the future of
There were more than one million admissions made to NHS hospitals during 2019-20, where obesity
JP Lennard
JP Lennard
1 - 20 of 11,913
HCM Magazine
Sponsored
Welcome to the world of creative fitness, where exercise and fun merge to change the way we train
HCM Magazine
HCM People
We see a world where every major city has access to Solo 60
HCM Magazine
Talking Point
Consumer research has shown a population-wide surge in interest in reducing lockdown weight gain and getting fitter. Is the industry ready and willing to put its hand up to help people with weight loss? Kath Hudson reports
HCM Magazine
Sponsored
Daniel Jones is the brains behind Orbit4, the world’s first digital ecosystem to manage and facilitate the entire commercial fitness product cycle. We caught up with him at Orbit4 HQ in Cheshire
HCM Magazine
HCM people
Once we grow beyond Manchester we’ll go head to head with Equinox and Third Space
HCM Magazine
Sponsored
HCM Magazine
Town planning
Over time, town planning has led to the creation of obesogenic environments, but Hamilton in New Zealand is taking a fresh approach to mobilising its population, by turning the city into a playground, as Kath Hudson reports
HCM Magazine
HCM magazine
CV kit has been fully connective for some time, but with the rise of the hybrid gym goer, what are strength suppliers doing to meet the demand for a fully connected offer?
HCM magazine
Choosing the right flooring is critical for gym and health club operators. Suppliers share their latest news, tips and product launches to help you choose wisely
HCM magazine
Physical activity gives structure and meaning to people’s lives, according to new research
HCM magazine
Moving Communities is our chance to demonstrate our value and develop a universal service for all, argues Martyn Allison
HCM magazine
When we questioned our customers on what they liked about The Claremont Club, they all mentioned that we were helping people who were in dire need
HCM magazine
The industry can be the catalyst for recovery from the pandemic, as well as addressing many of the underlying issues which enabled COVID-19 to wreak such havoc
HCM magazine
We’re about to launch Thrive, a class-leading co-living platform and we’ll continue our growth by developing world-class branded hotels. We love to explore anything that has a roof
HCM magazine
As our sector starts to recover, there will be changes in the needs of communities, consumers and the provision of opportunities. To explore this subject we hosted a virtual round table to better understand views on key workforce questions
HCM magazine
As the industry enters a phase of regrowth following the loss of members during lockdown, it’s crucial to understand customer acquisition cost versus the lifetime value of each customer, as Paul Bedford and Jamie Owens explain
HCM magazine
Opinion
promotion
While much of the fitness industry has reopened its doors across the UK over the past weeks, many members are yet to return.
Opinion: Re-engaging your post-lockdown absent members
Featured supplier news
Featured supplier news: INEOS: The future of hand-sanitising
As gyms begin to reopen, cleanliness and hygiene remain an essential part of ensuring staff and members are confident to return.
Featured supplier news
Featured supplier news: First digital ecosystem for fitness equipment is launched after £300,000 funding boost
Orbit4 is the first digital ecosystem that manages and facilitates the entire commercial fitness product cycle.
Featured operators news
Featured operator news: Everyone Active bolsters Everyone on Demand and enters second year with five new partnerships
Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
Featured operators news
Featured operator news: Everyone Active generates £342m in social value
Award-winning leisure operator Everyone Active generated £342million in social value at its sites across the country in 2019/20.
Company profiles
Company profile: Les Mills UK
For over 50 years Les Mills has been leading the way in fitness to inspire ...
Company profiles
Company profile: Matrix Fitness
Matrix provides innovative commercial fitness equipment to facilities in all market sectors including private health ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Skincare
Comfort Zone - Davines S.p.A: Skincare
Red Light Therapy
 Red Light Rising: Red Light Therapy
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Exercise equipment
Pendex Fisio S.L.: Exercise equipment
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Fitness equipment
Octane Fitness: Fitness equipment
Management software
fibodo Limited: Management software
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Spa software
SpaBooker: Spa software
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Diary dates
13-14 Jun 2021
Online,
Diary dates
01-04 Jul 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
28-29 Sep 2021
ExCeL London, London, United Kingdom
Diary dates
04-07 Nov 2021
Exhibition Centre , Cologne, Germany
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
Search news, features & products:
Find a supplier:
Active IQ
Active IQ