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A year after it originally had to close due to COVID, Title Boxing Club has been dealt a knockout blow.
“The final bell has rung for Title Boxing Club NYC,” said owner Michael Tosto. “Not because the fight was stopped or it had lost, but simply because they just canceled the game on us…
“With absolutely no revenue since March 2020, Title NYC paid its obligations until August — at which that point all 3 locations had run out of money. We held out hope through August and September, as regular gyms and restaurants were allowed to open, and also in October when restaurants were ok’d to build outdoor indoor structures in order to survive, however we were denied the same opportunity to survive. That was 7 months ago,” he added.
With three locations under his belt (the original at W37th Street between 9/10th Ave and others at Flatiron and Midtown East), the boxing club was on the up after first opening in 2014 — it featured in W42ST magazine in June 2015. But the pandemic was a massive hit — and while larger gym chains in the area like Equinox and Planet Fitness are backed by corporations, these Title franchises are small business and struggled to keep afloat.
Although gyms were able to reopen at limited capacity this past September, indoor fitness class centers like Title Boxing Club have been closed since the pandemic began. According to the latest statistics from the International Health, Racquet & Sports Club Association, Title is among 6,800 health clubs that have closed permanently nationwide in the past year, with a loss of $20.4 billion in revenue and 1.4 million jobs.
In his personal Instagram account, Tosto wrote: “Not only was my opportunity taken away from me, but my outcome was also determined for me.” But he remains positive and admits to having had “the greatest 7 years of my life.”
“Accept the cards you’re dealt. Fold if that’s the best move. Ask for another hand. I will find something else to challenge me,” he added.
In a further twist to the story, Governor Cuomo allowed indoor group fitness classes to resume at limited capacity yesterday (Monday).