Who’s at risk: Chains like Planet Fitness, Equinox, Soul Cycle, Life Time Fitness and 24 Hour Fitness thought they had put the worst behind them, leaving stay-at-home brands such as Peloton and Tonal scrambling to build on the success they enjoyed during COVID lockdowns.

Yes, but: Omicron is spreading rapidly just as the new year approaches. Home workout equipment, streaming services and fitness apps are readily available.

The potential return of mask mandates is particularly problematic for gyms that suffered when exercisers had to cover their mouths to work out.