Gym Chain YouFit Gets New Leader and Owners Through Bankruptcy

Gym chain YouFit Health Clubs LLC got a new leader and owners as the company wraps up its bankruptcy case.

The fitness chain, which filed for Chapter 11 in November, will be run by a group of former lenders that took control through the court reorganization process, according to a statement Thursday. Birch Grove Capital is the majority shareholder.

YouFit also appointed Brian Vahaly as its new chief executive officer. Vahaly was formerly chief financial officer of strength-training studio chain Solidcore and earlier worked in private equity and venture capital roles.

The fitness industry is seeking to recover from pandemic-induced ...