Breakingviews – Planet Fitness races against rate hikes ...Middle East

View of the Planet Fitness logo at the their location in Clifton, New Jersey, U.S., January 6, 2023. REUTERS/Jennifer Saba Acquire Licensing Rights NEW YORK, Sept 18 (Reuters Breakingviews) – Planet Fitness (PLNT.N) is struggling to adapt to a high-interest-rate diet. After 13 years, boss Chris Rondeau on Friday abruptly stepped down from the $4 billion gym chain, sending shares to their lowest level in three years. With growing debt-servicing costs crimping franchisees, the company can’t outrun rising rates unless its next coach reconsiders rock-bottom prices. Under Rondeau, Planet Fitness benefited from a post-pandemic exercise rebound, notching annual sales growth of over 40% in

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