Gold’s Gym to Be Bought Out of Bankruptcy by German McFit Owner

July 14, 2020, 8:58 PM

RSG Group GmbH, the Berlin-based fitness company that owns the McFit chain, won a court-approved auction to buy Gold’s Gym for $100 million, according to a news release.

Gold’s saw its business drop during the Covid-19 pandemic and filed for court protection in May. The company tapped a $20 million bankruptcy loan shortly after to keep operating even as most of its gyms remained shut.

The iconic American gym will emerge from bankruptcy with a healthy balance sheet, 61 company-owned gyms and more than 600 franchise-owned gyms, according to the RSG news release. The sale still needs to ...

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