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Bankrupt Gold’s Gym’s Sale to German Fitness Chain Approved

July 29, 2020, 6:52 PM

Gold’s Gym International Inc. received bankruptcy court approval to sell its fitness enterprise for about $100 million to RSG Group GmbH, the German operator of the McFit chain of workout clubs.

Gold’s said it resolved all outstanding challenges to the deal prior to the telephonic hearing Wednesday at the U.S. Bankruptcy Court for the Northern District of Texas. RSG agreed to assume more than $8.6 million in payments currently owed to unsecured creditors, Gold’s said.

Judge Harlin D. Hale’s approval at the hearing caps off a competitive sale process won by RSG and moves the fitness chain closer to a ...

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