Gold’s Gym Files for Bankruptcy Protection Due to the Coronavirus Pandemic
Gold’s Gym has announced that it filed for Chapter 11 bankruptcy protection earlier this week. This news follows the onlinepany’s decision to permanently close about 30 of its onlinepany-owned gyms last month due to economic hardships caused by the COVID-19 outbreak. Most of the remaining Gold’s Gyms are still closed due to the pandemic.
The onlinepany said in a statement that it will continue to support the more than 700 gyms that it still operates worldwide. The statement went on to say, “While the COVID-19 pandemic certainly impacted our onlinepany-owned gym operations, we expect the filing will have no further impact on current operations.”
Gold’s Gym expects to emerge from bankruptcy by August 1, “if not sooner.”
