The fitness chain P&T, known as Puls & Träning, has declared bankruptcy, confirmed by the Western Uusimaa district court on March 16. The bankruptcy filing was received on March 11, signaling serious financial distress for the company. Additionally, creditor Lowell is seeking bankruptcy on behalf of Keilaranta 4 oy, which has rental office spaces at the same address listed for PT Salit Finland oy. This indicates that the financial troubles extend beyond just the fitness chain.

For the past five years, P&T has been facing losses, and for the fiscal year 2024, the company reported a revenue of 1.6 million euros with a loss amounting to 487,000 euros. In light of this, P&T has announced via its website that its gyms will remain closed indefinitely and that no new memberships will be sold. The situation reflects broader struggles within the fitness industry, particularly for budget-friendly gyms operating on a franchise basis.

CEO Marko Lavikainen did not provide comments on the bankruptcy situation when contacted by Iltalehti, promising to return with more information on Monday. The closure of P&T's gyms raises concerns about the effects on both employees and members, particularly as the fitness chain primarily catered to affordable neighborhood gyms. As local franchises struggle amidst financial upheaval, it increasingly highlights the challenges faced by similar businesses in the current market economy.