Industry Watch: Keeping an eye on layoffs, bankruptcies and closings… Who’s next?

2/9/09
Precor
Amer confirms in its 4Q financial report that Precor had two rounds of layoffs in Q4 resulting in 41 positions being terminated. Click here to read SNEWS coverage.

2/11/09
Nike
Nike announces reorganization plans that could result in up to 1,400 employees losing jobs by end of year. Click here to read SNEWS coverage. And click here to read blog posting on news.

2/11/09
REI
Based on a significant business slowdown in the final months of 2008 and continued projected weakness in 2009, REI announced the elimination of 61 full-time jobs, which represents less than 2 percent of its full-time workforce. Click here to read SNEWS coverage.

2/20/09
Gymcor.com
Kelley Acevedo and his staff at GymCor.com stopped returning calls and emails, and, it appears, have emptied their offices and slipped away. Click here to read SNEWS coverage.

2/24/09
Horny Toad / Nau
As part of restructuring following the Nau acquisition, Horny Toad confirmed that five employees lost positions at Horny Toad, and then in February two more, including Ian Yolles at Nau were let go in Portland.

2/24/09
Champion / Duofold
Hanesbrands has about 45,000 workers in more than 25 countries. Last month the company said 310 jobs will be cut when it closes its Barnwell, S.C., sock-knitting plant and moves production to El Salvador by the end of April. Hanesbrands has been cutting jobs and closing plants in an effort to streamline operations and move production to other countries since it spun off from Sara Lee Corp. in 2006.

2/25/09
FHI, Omni, Busy Body
On Feb. 23, the remaining 24 stores, i.e. the eastern branch of Fitness Holdings International's formerly dominating 120-store national chain, were going to start close-out sales, signaling the eventual demise of the stores. Although once at a peak of 120 stores, FHI at the time of the October filing said it ran 111 stores -- 67 Busy Body and 44 Omni. In late October, the court approved closing 20 stores, and then added four stores to the list in November and another 30 in December. Add those 54 to the current 32 and that leaves 25 stores, which are now only in California and Colorado. Presence in Arizona, Nevada and Washington has already been eliminated. Click here to read SNEWS coverage.

2/27/09
Body Masters
After three decades of manufacturing high-end commercial fitness equipment, Body Masters has shut down operations. Knight Companies, a firm that specializes in oilfield and fishing tools, has acquired Body Masters' bank note and is foreclosing on the manufacturing facility including most of the manufacturing equipment. Click here to read SNEWS coverage.

3/2/09
Marmot / ExOfficio
Four employees at Marmot, including industry veteran John Cooley, as well as four employees at ExOfficio were laid off. Click here to read SNEWS coverage.

3/2/09
Accell Fitness
Accell said production was cut back in Estonia and purchasing is now fully concentrated in Asia. Also, R&D and purchasing activities in Finland were terminated, and were centralized at the head office in the Netherlands. The sales offices and warehouses in Germany, Switzerland and Austria were closed and stock management was transferred to the local distributors. These markets are now managed centrally from the Netherlands. Because of redundancy, 25 jobs were cut. Apart from the head office in the Netherlands, Accell said the fitness division still has sales outlets, including warehouses, in Finland, the United Kingdom and North America.

3/2/09
Big 5
Big 5 said it reduced its employee headcount by 9 percent last year through attrition.

3/2/09
Hardbody Fitness
After 7 years running Hardbody Fitness specialty shop and All Sports sporting goods, owners David and Brenda Hayes announce they are shutting when December 2008 sales plummet. Click here to see a SNEWS report.