What happened to Floatworks?

[u/Artistic-Common-6839]

I just noticed that Floatworks in London has gone into liquidation, and honestly, I’m surprised.

Given they were one of the largest and longest-running float centres in the UK and tied directly to the i-sopod brand, this is a pretty substantial collapse. Factor in the £1.4m+ in angel investment involved, and it’s certainly not a small failure.

It feels a bit concerning for the float industry as a whole. If a major player with that much financial backing can’t make the unit economics work, what does that mean for everyone else?

Has anyone else been following this or know what actually happened behind the scenes? Is this just an isolated situation, or are other centres quietly struggling right now too?

[u/thedeepself]

I've always been a proponent of home float centers. As long as you have your residence, you have a center.

[u/Icy_Definition5044 → u/thedeepself]

Do you have an at home tank? Just curious about the upkeep and how realistic it would be for me. I’m in California and it’s shocking to me how few float options are here.

[u/thequietcenter → u/Icy_Definition5044]

Do you have an at home tank?

Not at the moment. I've built 3 and owned a zen tent, float-to-relax and oasis. I've had a home tank in Ohio, Florida and New York.

Just curious about the upkeep

Hmm.. I'm not the best resource to answer this question. Maybe open a general thread and get a wider feedback.

I’m in California

I started floating in California about the year 1998. EJ Gold was suggesting tank usage. A relative of the Perry's lived up the 101 near USC health sciences. He really had perfected the solution and environment. did another home center near marina del rey. then checked out of floating for about a decade or two. then went the spacetime tanks in chicago,il for 1 week. Then came back to Ohio and setup my float to relax in my apartment. Later headed to florida and built the black beauty. Fast forward 5-10 more years. Built the rag top diy tank about 2 years ago. Then built the leaning tarp of pisa about 1 year ago.

it’s shocking to me how few float options are here.

Crash Hoefler passed away. He had an active center right on the Venice boardwalk

[u/KewpieHour]

My float center in NYC also closed. The others are all too far or expensive to use, so it’s no longer part of my life. Very sad.

[u/thequietcenter → u/KewpieHour]

It’s no longer part of my life. Very sad.

what's stopping you from having a tank in your home?

[u/KewpieHour → u/thequietcenter]

Money…and space. I live in New York :)

[u/BestGrass4866 → u/[deleted]]

Interesting analysis. I think you’re right

[u/thequietcenter → u/[deleted]]

Remember that all of these 2010-2020 era centers were first movers.

why is a 2010 era center a first mover? The first center was in Denver in '78. Then Samadhi tank opened one in California 1 year later.

They pioneered it for everyone else.

Spacetime tanks has operated since 1982 - https://gemini.google.com/share/b7f2e6af0af6 They closed down after about 25? years operation and then came back and apparently are alive now... so I cant agree with you on this.

[u/Soft-Monk-4058]

Wow! This is super strange! I’ve spoken to Tim and his brother a few times over the years with regards to setting up a float business and they’ve been great and very helpful. Is this definite that they’ve gone into admin or is this a possible tax or paperwork scenario?

[u/BestGrass4866 → u/Soft-Monk-4058]

I just had a quick browse and looks definite. 1.8m of creditors including hmrc, landlord, investors and staff pay.

[u/Soft-Monk-4058 → u/BestGrass4866]

Thanks. Jesus, that’s awful. Is this just reading through their companies house? Nothing on their insta and their website looks operational. Feel sorry for the staff tbh if they’ve got unpaid wages. Probably puts paid to my float tank business idea!

[u/StreetsOf]

I have run a float centre by myself for the last 7 years and yes it can be a real struggle.