MINNEAPOLIS—Mark Royce and his wife began 2020 with three boxing clubs and a yoga studio. All four businesses were flourishing, and two of the boxing clubs were on the market as they sought to downsize.
By the end of 2020, after months of severe shutdowns imposed by the governor, they had one barely-surviving boxing gym and the yoga studio was squeaking by. They'd been forced to offload the other two boxing gyms in July for peanuts just to get out of the leases, which demanded more than $10,000 a month at each location.
