National
24 Hour Fitness Files for Bankruptcy, Closes 100+ Gyms
National gym chain 24 Hour Fitness has filed for bankruptcy, after the Covid-19 pandemic forced its facilities shut for months.
24 Hour Fitness said Monday in its Chapter 11 filing that it has secured $250 million in funding to help reopen some of its clubs and expects a majority of locations to be open by the end of June. However, it’s emerging as a smaller chain: It permanently closed 100 US locations in 14 states with roughly 300 clubs remaining.
The Indio location is not on the list to close.
An important message to our community about reopenings. We are pleased to announce our plans to reopen many of our clubs. Please find a list of clubs here: https://t.co/vFwAP2sV30 pic.twitter.com/G49iIsRa0H
— 24 Hour Fitness (@24hourfitness) June 11, 2020
“If it were not for Covid-19 and its devastating effects, we would not be filing for Chapter 11,” CEO Tony Ueber said in a statement. “We expect to have substantial financing with a path to restructuring our balance sheet and operations to ensure a resilient future.”
He also said the restructuring will result in “reinvestment in our existing clubs, opening new clubs and introducing several new innovative products and services.” 24 Hour Fitness, which began in 1985, is a privately held company.
Middle-tier gym chains are struggling with customers switching to less-expensive fitness facilities, such as Planet Fitness. People are also flocking to boutique studio classes, including OrangeTheory, or in-home alternatives, such as Peloton, which recently reported a surge in members because of the pandemic.
Gold’s Gym, a similar chain to 24 Hour Fitness, filed for bankruptcy in May. The company said the virus affected it “deeply and in many ways,” which included the temporary closures of many of its 700 global gyms. Gold’s permanently closed 30 locations in April and expects to emerge from bankruptcy in August.
Also on Monday, the owner of New York Sports Club and number of other gyms predominantly on the East Coast warned it’s considering bankruptcy because of the temporary closures sparked by the pandemic.
Town Sports International said in a regulatory filing that the “scope and duration of the interruption to our operations has substantially reduced our cash flow.” To preserve cash, it laid off much of its 7,000 people workforce and stopped paying rent.
Town owns around 200 gyms, including Sports Club branded locations in Boston, Philadelphia and Washington, DC, and also Lucille Roberts, a women’s-only gym in New York.
The-CNN-Wire
By: NBC Palm Springs
June 15, 2020
Latest Instagram Posts
As fall approaches, it’s time to start thinking about your annual flu shot. The CDC recommends flu vaccination every season for nearly everyone 6 months and older, and September or October is generally the ideal time for most people to get vaccinated. The 2026-27 flu vaccines have been updated to target the strains expected to circulate this season. There’s also a new option this year: Moderna’s mFLUSIVA, the first FDA-approved mRNA flu vaccine, for adults 50 and older. Talk with your health care provider about which flu vaccine is right for you and make a plan to get vaccinated this fall. Learn more about DAP Health at DAPHealth.org. #FluSeason #FluShot #FluVaccine #DAPHealth #CoachellaValley #PalmSprings #Health #Wellness #NBCPalmSprings
Murder Suspect Vicky Kim was set to appear in court at the Larson Justice Center today following her recent medical clearance to appear in court, but refused. However, she may be forced to appear should she refuse again. Stay tuned with NBC Palm Springs as we follow the latest developments of this case #VickyKim #arraignment #courtupdate #riversidecounty
🚨 20 ARRESTS. 6 GUNS SEIZED. Cathedral City Police report 20 arrests and six handgun seizures following two days of enforcement tied to a Mongols Motorcycle Club gathering. Police also issued 77 citations and impounded 14 vehicles. The operation involved multiple law enforcement agencies and was four weeks in the making. #CathedralCity #BreakingNews #Mongols #CoachellaValley #PublicSafety
Social Time with Thalia & Jerry: last day of summer!
Who makes the NBC Top 3, winner will be announced Sunday night on NBC Palm Springs, with the player who makes the number one spot winning a $250 prize from @hondaofthedesert! Comment below if it will be 1 Silias Bloodworth with the scoop and score, 2) Eusebio Gallo with the kickoff touchdown, 3) Keymorie Rogers with the throw on the run, 4) Damian Durinzi with the rushing TD, or 5) Mario Gallo with the dot towards the endzone #fypage #fridaynightlights #football #hondaofthedesert #highschoolfootball
Hundreds gathered outside the Kennedy Center in Washington, D.C., for the “Hands Around the Kennedy Center” rally, protesting President Donald Trump’s handling of the performing arts center. The demonstration came after the Kennedy Center board voted to close the facility for repairs and amid an ongoing dispute over the center’s future. Actress and singer Lynda Carter was among those who addressed the crowd. apnews.com Watch the latest video on NBC Palm Springs.
Alice B. has announced it’s closing its doors. It’s cozy atmosphere and unique seasonal menu made it a must try and even landed it in the Michelin guide. @susanfeniger and @marysuemilliken left their mark on the desert over at Living Out and it will be missed. Here’s a clip from one of our last interviews with Susan.
Cathedral City City Council votes to rename “LGBT+ Days” to “Cathedral City Pride”. The council approved the change in a 5-0 vote during its latest meeting, updating the official name of the city’s annual celebration. Stay tuned with NBC Palm Springs to see what this means to the Coachella Valley Community #CathedralCity #pride #CityCouncil #CoachellaValley #LocalNews
Discover the Coachella Valley with the Everything Palm Springs app. From iconic attractions and hidden gems to local restaurants, shops, entertainment and even filming locations, the map-based app is designed to help both visitors and locals find more of what the desert has to offer. Creator Lindsay Kinkle is also expanding the app with video tours and narrated guides, giving users another way to explore Palm Springs and the surrounding communities. Local businesses like Buena Matcha are also getting a chance to connect with new customers through the platform. As Lindsay says, there’s so much to do and enjoy here — you just have to know where to look. #PalmSprings #CoachellaValley #EverythingPalmSprings #PalmSpringsApp #VisitPalmSprings DesertLife LocalBusiness CoachellaValleyBusiness NBCPalmSprings
Social Time with Thalia & Jerry