YYoga in North Vancouver may be forced to shut down

NORTH VANCOUVER (NEWS 1130) – After 12 years at its North Vancouver location, a beloved yoga studio may be forced to shut down. YYOGA is asking members to help save one of its flagship locations.

The studio has been closed for most of the pandemic and has now entered insolvency. It was able to reach agreements with landlords at most of its other locations, but YYOGA CEO Terry McBride says the District of North Vancouver did not accept and came back with an offer.

“It’s key when you’re in insolvency that you don’t give any preference to anyone else. The terms have to be transparent and what you offer one landlord, you need to offer the others,” he explained.

“[The District] was asking for a sweetheart deal or asking for a preference. We’re not allowed to get preference. Our trustee had multiple phone calls with them, saying ‘That’s not allowed. If we give preference for one, we have to give preference for all.’ And if we gave preference for all upon this particular matter, the company is bankrupt,” McBride said.

Terry McBride says "they've caused 50 people to lose their jobs," and that after 12 years they are an anchor tenant that brings 100k people to the location under normal times.

He says the district has been professional, but shown an "utter complete lack of empathy." 2/4

— Bailey Nicholson ???? (@bcjnicholson) June 25, 2021

In the end, YYOGA had to decline the District’s offer.

“We had to disclaim the lease. If we hadn’t, we had to file for bankruptcy,” McBride explained, adding he doesn’t understand why the district believes this is the best option financial option.

“If they go and rent it out to someone else, they’re not going to find someone tomorrow. They’re going to have to pay to reconfigure the actual space … This is not a benefit to the taxpayers, it’s actually going to cost the taxpayers,” he argued.

Related article: B.C. businesses face tough decisions with new COVID-19 restrictions, call for support

Having been at its Lynn Valley Road location for 12 years, McBride says YYOGA is a staple in the community.

“From many donation classes to even when that brutal stabbing happened a couple months ago. We’re the ones that got everyone, and got the District involved in getting resources for mental health around it,” McBride explained.

He calls the situation “gutting” and “sad,” arguing the studio is vitally important to thousands of people.

“We have multiple stories of people coming there and getting better from physical abuse, from mental issues, from health problems. And that studio’s been a savior and a place of healing,” he said.

For its part, the District says businesses all over have struggled through the COVID-19 pandemic and it has “worked to support the business community during this challenging time.” It says “we have provided the same support to YYOGA that we have offered to other tenants, and offered a settlement that we believe is fair and equitable.”

Members are urged to reach out the mayor and members of council to emphasize the importance this studio has within the community, otherwise it'll close July 17.

More on air @NEWS1130 4/4

— Bailey Nicholson ???? (@bcjnicholson) June 25, 2021

But McBride doesn’t feel the District is showing much empathy.

“They’ve caused 50 people to lose their job, lose their income. They’ve caused thousands of North Shore residents to have to go do their yoga elsewhere. We’re an anchor tenant and have been there for 12 years. We pull about 100,000 people a year to our space, under normal times.”

YYOGA is asking its members to reach out to the mayor and city councillors, and request to speak at the next council meeting, in hopes of saving the studio before the lease expires July 17.

The company is closing down its Yaletown studio.

“Despite our best efforts, we were unable to reach an agreement with our landlord at YYOGA Yaletown which would permit us to keep operating at that location,” YYOGA said in a statement posted on Facebook, noting the last day of classes will be July 8.

It has not put out any call to members for support in saving that location.