Finance 24 Hour Fitness files for bankruptcy and closes 100 gyms Staff Editor June 15, 2020 Share on Facebook Share on Twitter Share via Email Subscribe Now Log in 24 Hour Fitness said Monday in its Chapter 11 filing that it has secured $250 million in funding to help reopen some of its clubs and expects a majority of locations to be open by the end of June. However, it’s emerging as a smaller chain: It permanently closed 100 US locations in 14 states with roughly 300 clubs remaining. “If it were not for Covid-19 and its devastating effects, we would not be filing for Chapter 11,” CEO Tony Ueber said in a statement. “We expect to have substantial financing with a path to restructuring our balance sheet and operations to ensure a resilient future.”… READ MORE @ CNN24 Hour Fitness said Monday in its Chapter 11 filing that it has secured $250 million in funding to help reopen some of its clubs... Membership Required This article is for ATN Pro members only. ATN Pro members get: Unlimited access to Athletech News articles Exclusive access to ATN Pro-level reporting Discounts to ATN the Innovation Summit VIP access to community events Exclusive email newsletters Subscribe Now Already a member? Log in Already a member? Log in here Tags: 24 Hour Fitness Bankruptcy Tony Ueber
