The short version
- Triyoga and four sister fitness brands have ceased trading, leaving approximately one hundred freelance teachers unpaid for their final weeks of work.
- The parent company Common Bond is undergoing insolvency proceedings to repay tax debts, while investors launch an internal investigation into management practices.
- Industry observers are debating whether the collapse constitutes illegal phoenixing or a standard liquidation, prompting calls for stronger labor protections for gig-economy fitness workers.
The sudden shutdown of Triyoga, once a premier destination for London’s elite seeking wellness and community, has left a trail of financial distress among its freelance instructors. The studio, along with four associated fitness brands including Barrecore and Boom Cycle, abruptly ceased operations in September, catching both staff and members off guard. Approximately one hundred yoga teachers report they have not received wages for their final weeks of instruction, creating immediate hardship for individuals who relied on this income for essential living expenses.
For many instructors, the loss extends beyond mere inconvenience to severe personal crisis. Kate Comer, a single mother teaching at the studio, estimates her unpaid losses at roughly £1,500. She describes feeling blindsided by the closure, which has exacerbated existing financial anxieties related to an ongoing divorce and housing stability. Other teachers report similar struggles, with at least one instructor facing potential homelessness due to the sudden cessation of income. The freelance nature of their employment means they lack the safety nets typically afforded to traditional employees.
The corporate structure behind these closures is complex and has drawn scrutiny. The five fitness brands were owned by Common Bond, which announced a temporary suspension of trading in late September. This entity had previously acquired assets from United Fitness Brands after its liquidation in 2025. Robert Rowland, a former director of the previous holding company, led Common Bond but resigned in May 2026. It is understood that significant debts to Her Majesty’s Revenue and Customs emerged around the time of his departure, leading to a winding-up petition filed in mid-September.
Investors are now examining the management decisions that led to this point. Nectar Capital, the investment firm backing Common Bond, has launched an investigation into Rowland’s stewardship of the business. Rowland, who currently serves as chief of staff at another wellness company, is also linked to a separate pub venture that faced similar tax-related legal actions in late 2025. These connections have fueled speculation among industry insiders regarding the broader financial health and operational integrity of the entities involved.
Questions are mounting about whether this collapse represents a form of phoenixing, a practice where directors dissolve a company to escape debts before restarting operations under a new name. While such maneuvers can be legal if conducted without deliberate abuse, instructors and union representatives are skeptical. The Yoga Teachers’ Union chair Davy Jones noted that the yoga community has historically been trusting and perhaps naive regarding business practices. He argued that the entry of private equity and hedge funds into the fitness sector necessitates a shift toward organized labor advocacy.
The decline of Triyoga was not entirely sudden in its internal culture, even if the final closure was abrupt. Longtime instructors noted a gradual erosion of the studio’s original ethos following its acquisition by United Fitness Brands in 2022. Cost-cutting measures included replacing licensed music with AI-generated alternatives and substituting eco-friendly products with cheaper options. Robin Catto, an instructor with twenty-six years at the studio, described how the brand’s groundbreaking mix of styles and strong community feel began to hollow out under new ownership.
Students have also borne the brunt of the instability. Members who paid for annual memberships found themselves without access to classes as websites and social media accounts vanished overnight. Ciara Regan, who had invested in a year-long membership for mental health benefits, reported last-minute cancellations before the complete disappearance of digital presence. The lack of communication left customers unable to seek refunds or alternative arrangements, compounding the frustration felt by those who had financially supported the brand.
Looking ahead, the insolvency process aims to repay tax authorities, with the fitness brands reportedly up for sale. However, recovery for unpaid teachers appears unlikely in the short term. The Yoga Teachers’ Union is pursuing a test case to secure workers’ rights comparable to those granted to drivers in other gig economy sectors. This legal battle may set a precedent for how freelance fitness professionals are classified and protected in an industry increasingly dominated by large-scale investment firms.
The collapse serves as a stark reminder of the vulnerabilities inherent in the modern wellness economy. As profit-seeking entities continue to acquire niche lifestyle brands, the tension between commercial efficiency and community value becomes more pronounced. For the instructors left behind, the immediate challenge is financial survival, while the broader industry faces pressure to redefine labor standards in an era where traditional employment models are rapidly dissolving.
Sources behind this briefing
Go to the original reporting
- The Guardian US↗Bailiffs and 100 unpaid teachers: inside the collapse of ‘groundbreaking’ yoga studio Triyoga
