A U.K.-based apparel company is laying off staff in its Denver office, which serves as the company’s U.S. headquarters.
GymShark said in a letter to the state this month that it plans to lay off 65 to 67 employees by March 24. The company’s Denver office is in Republic Plaza at 370 17th St.
Founded in 2012 by then-teenager Ben Francis, GymShark creates and sells fitness apparel. GymShark employs over 900 people and expanded to the U.S. in 2019, according to the company’s website. The company has five offices, including the one in Denver.
GymShark said in the letter it is “ceasing a substantial portion of the operations” in Denver, without specifying what would remain. The company didn’t respond to requests for comment.
GymShark has been valued at over $1 billion, according to previous media coverage.
The company notified the state in an effort to comply with the federal Worker Adjustment and Retraining Notification Act, which requires large employers to provide advance notice of plant closings and significant layoffs.
California-based Specialized Bicycles also told the state this month it is cutting 15 Colorado employees as part of a 120-person layoff.