Gold’s Gym Files for Bankruptcy Protection Amid Fitness Closures

May 4, 2020, 4:51 PM

Gold’s Gym International Inc. sought court protection from its creditors, unable to keep up with debt payments after the prolonged shutdown caused by the coronavirus outbreak.

The gym operator filed for bankruptcy in Dallas, listing as much as $100 million in assets and liabilities, according to court papers. Chapter 11 bankruptcy allows a company to keep operating while it works out a plan to pay lenders and ease its load.

Gold’s blamed the bankruptcy on the pandemic, which forced its fitness studios to shut. A number of gym chains were struggling with onerous debt even before the virus shuttered the ...

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