Toronto gym reopens after striking deal with landlord who tried to evict them
The gym at 181 Carlaw Avenue was forced to shut down in May after owing more than $100K in late rent.
Two months into the pandemic, Hone had its locks changed and its property seized by landlord, 1 Eight 1 Limited, courtesy of a letter on the door.
But another two months later and the gym has reopened its doors on July 1, despite what Hone owner Jim Solomon calls a "gory" commercial rent landscape.
"It's a tough environment for gyms and for landlords the same," says Solomon.
The chain founder says he was able to strike a deal with his landlord, and the two parties agreed to get on the Federal government's CECRA program, which Solomon describes as a life saver considering the gym had zero revenue between mid-March and the end of July.
Under CERCA, both Solomon and the landlord pay 25 per cent of the rent, while the government covers the other 50 per cent.
"Without the government program it would have been really difficult."
All seven of Hone's gym locations across Toronto are now open, with physical distancing measures in place under Stage 3 of Ontario's reopening plan.
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