Gym Carnage Rolls On With YouFit Chain Filing for Bankruptcy (2)

Gym chain YouFit Health Clubs LLC filed for bankruptcy on Monday, joining a growing list of fitness peers forced to seek court protection from creditors amid the pandemic.

The Chapter 11 filing in Delaware allows YouFit to continue operating while it works out a plan to repay creditors. YouFit’s petition listed assets of no more than $100 million and separate court papers show debt of about $110 million.

YouFit has a tentative deal to sell itself to lenders for $75 million, court papers show. Payment would come in the form of debt forgiveness. The so-called stalking horse bid sets ...