24 Hour Fitness Said to Engage Suitors Before Planned Bankruptcy

24 Hour Fitness Worldwide Inc. is in discussions with suitors as it seeks a potential buyer to serve as a stalking horse in a court-supervised bankruptcy process, according to people with knowledge of the matter.

The operator of more than 430 gyms is working with an adviser to solicit potential bidders ahead of a planned bankruptcy filing, said the people, who requested anonymity because the talks are private.

“24 Hour Fitness is productively engaged with its creditors to explore strategic options and ensure the company is well positioned to serve its members nationwide for the long-term,” the San Ramon, California-based ...