The recent wave of SoulCycle studio closures in June and July of 2026—affecting locations in markets like San Diego (La Jolla), Santa Monica, Denver, and New York (Bryant Park)—is primarily a cost-cutting measure aimed at stabilizing the company’s finances.
The closures are the result of several colliding business realities:

Unsustainable Studio Economics

The fundamental math at many of these locations simply stopped working. Operating a premium boutique fitness studio requires significant overhead, including high rent in prime commercial real estate areas, utility costs, and payroll for managers, staff, and instructors.
Recently, many of the affected studios were struggling to fill bikes. Reports from the rider community indicate that some classes were operating at less than 50% capacity—sometimes with only 10 to 16 riders per session. At those numbers, a studio cannot generate enough revenue to cover its daily operating expenses, leading to what industry watchers and riders have described as a “bleeding” of money. By shutting down these underperforming locations, SoulCycle is attempting to stop the financial drain and protect its remaining, more profitable studios.

A Major Leadership Transition

Adding to the abruptness of the closures is the timing of a major leadership change. In June 2026, it was announced that SoulCycle’s CEO, Evelyn Webster—who had led the company since late 2020—is stepping down. In July 2026, she is taking over as the CEO of the podcast network Audiochuck.
The decision to close a handful of studios and exit certain markets entirely appears to be a final restructuring move during her exit, leaving the incoming (and yet-to-be-announced) leadership with a leaner, albeit smaller, studio footprint.

The Lingering “Pandemic Hangover”

SoulCycle has been on a long, bumpy road since 2020. Before the pandemic, the company operated nearly 100 studios. Today, that footprint has been drastically reduced.
While many riders returned to in-person fitness, the landscape permanently shifted. The rise of at-home connected fitness (like Peloton) and the broader economic pressures on consumers’ discretionary spending have made a $36+ spin class an easy target for personal budget cuts. SoulCycle already went through a massive downsizing in 2022—closing 19 studios and laying off staff citing “oversaturated markets”—and this 2026 wave is a continuation of that struggle to find the right size for a changed world.