Gold’s Gym files for Chapter 11 owing to nationwide lockdowns

Gold’s Gym files for Chapter 11 owing to nationwide lockdowns

Gold’s Gym filed for Chapter 11 on Monday as a way to ’facilitate the financial restructuring of the company’ after nationwide lockdowns led to its inability to service debt payments. However, the restructuring is likely to impact only company-owned locations, approximately 10% of the 700 locations globally. The company expects to re-emerge from bankruptcy proceedings by the beginning of August.

Milan
Milan
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