New York Sports Clubs has agreed to issue credits and refunds of membership fees during during coronavirus closures, officials announced Friday.
The gym chain’s owner, Town Sports International Holdings, is considering a potential Chapter 11 bankruptcy filing, according to Bloomberg. The chain has been in talks with lenders and advisors over a $200 million loan coming due in November... Read More @ TheRealDeal
For the fitness industry, ClassPass CEO Fritz Lanman told Karen Webster, the last several weeks have been nothing short of “catastrophic” for the industry as a whole. Every player has been left scrambling to figure out how to shut down their business, provide for their staff, and then stay alive long enough to ride out...
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