Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: Ron on June 13, 2020, 10:52:37 PM
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From their website -->
24 Hour Fitness has made the difficult decision to close the following locations. Members, we invite you to work out at any reopened location throughout 2020.
https://www.24hourfitness.com/health_clubs/club-closures/
In Southern California, the total is 18 gyms
https://www.pe.com/2020/06/13/24-hour-fitness-closes-18-southern-california-gyms/
Total gyms that 24 Hour Fitness is closing are
California - 33 locations
(10 in the SF Bay Area, 11 in LA County, 7 in OC County, 1 in Sacramento, 4 in San Diego County)
Texas - 23
(3 in Austin area, 9 in Dallas area, 11 in Houston area)
Colorado - 12
(1 in Colorado Springs, 11 in Denver area)
Florida - 3
(2 in Miami, 1 in Orland)
Nevada - 9
(1 in Rendo, 8 in Las Vegas area)
New Jersey - 6
New York - 3
Oregon - 1
Utah - 4
Virginia - 1
Washington - 8
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And today... they file for bankruptcy. Thank you Gov Newsom for putting California gyms into the longest shutdown in the country, over 3 months, instead of working out a plan in the beginning to save business' and jobs.
24 Hour Fitness files for bankruptcy and closes over 130 gym locations across the US
24 Hour Fitness Sets Course for the Future with Financial Restructuring; Nationwide Club Reopenings Underway
Majority of Footprint Expected to Reopen by End of June. Company Expects to Secure Approximately $250 Million in DIP Financing
SAN RAMON, Calif.--(BUSINESS WIRE)--24 Hour Fitness (the “Company”), an industry-leading fitness brand for over 35 years, today announced that, due to the disproportionate impact of the COVID-19 pandemic, the Company has voluntarily filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.
In conjunction with the Chapter 11 filing, the Company expects to secure approximately $250 million in debtor-in-possession (DIP) financing. Subject to Court approval, the DIP financing, combined with the Company’s cash from operations, is expected to provide sufficient liquidity and allow the Company to continue operations, including club reopenings, without interruption during the Chapter 11 process.
24 Hour Fitness is continuing to reopen clubs in a phased approach and welcome members in locations nationwide, carefully following state and local government and public health agency guidelines. The Company expects to reopen the majority of its footprint by the end of June. During the time of phased club reopenings, all club members will have access to any available 24 Hour Fitness club through the end of 2020, regardless of membership level
The health and safety of team members, club members and guests remain a top priority. The Company has reimagined its club experience – from a new workout reservation system and touch-free club check-in, to stringent cleaning and social distancing protocols – to support the health and wellness of club communities.
“If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11. With that said, we intend to use the process to strengthen the future of 24 Hour Fitness for our team and club members, as well as our stakeholders,” said Chief Executive Officer Tony Ueber. “We expect to have substantial financing with a path to restructuring our balance sheet and operations to ensure a resilient future. The COVID-19 environment has proved that attention to health and fitness are more important now than ever before. As a result of this restructuring, we will gain financial strength and flexibility to accelerate our business transformation plan, which includes reinvestment in our existing clubs, opening new clubs and introducing several new innovative products and services that will enhance the fitness experience for our club members and guests for many years to come.”
Ueber continued, “I want to thank our team members for their unwavering commitment and our club members for their continued loyalty during such an unprecedented period in our lifetime and company history.”
As a routine matter, the Company has asked the Court for authorization to continue paying team members’ wages, salaries and benefits and to continue its various member programs. As a result, the Company’s salaried and hourly team members should continue to be paid on the normal schedule.
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Restructuring the finances means the suppliers are going to get screwed.
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I cant imagine anyone wanting to jump in and save a failing gym chain now.
I drove by my gym just now on my way to the dmv and seeing it dark and empty made me tear up a little.
Fuck you gavin newsom. We will not be forgetting anytime soon.
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What happened to AG Bill Barr stepping in to stop these governors from destroying their states with prolonged shutdowns????
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What happened to AG Bill Barr stepping in to stop these governors from destroying their states with prolonged shutdowns????
Constitutional Lawsuits have been flying around the country for a couple of months now.
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Golds filed for bankruptcy as well, but Venice will try to hang on, despite Google owning it and the end being near. I forgot today was the 15th so went to try and work out, but it's open tomorrow. There is a big sign outside that says "LINE TO ENTER STARTS HERE", so you will have to wait to get in or something. I heard plates and shit clanking, so they are letting some people work out early to "test it out" I guess. Here's the new hours out front. I think the new hours are not "temporary" but to cut costs.
Bodybuilding Favorite Gold’s Gym Files For Chapter 11 Bankruptcy Protection
Forbes May 5, 2020
Gold’s Gym, made famous by 1977 bodybuilding documentary Pumping Iron, starring Arnold Schwarzenegger, is the latest firm to declare bankruptcy as it buckles under the economic toll of coronavirus shutdowns that have forced fitness fanatics to stay at home.
Gold’s Gym filed on Monday for Chapter 11 bankruptcy, with at least 30 company-owned gyms set to close. The business was founded by Joe Gold in 1965.
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My local 24 hour fitness was bought out by Golds a few years ago. Then recently Golds closed.
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Saddened, my local 24 had been "my gym" for the past 20 years and had been going Since the days of 24 hours/nautilus... Grateful I have some basic workout equipment in my garage
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Gold's Venice Beach should be deemed a Historic Landmark, some wealthy Dubai schmoe should buy teh 'Mecca'
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Gold's Venice Beach should be deemed a Historic Landmark, some wealthy Dubai schmoe should buy teh 'Mecca'
Any comments on xfactor?You came on here backing him up that he was a bigshot off the forum and he turned out to be a nobody at some mom and pop shop
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Sad to hear about 24 Hr Fitness closing 8 gyms in Las Vegas. I went to the Tropicana Super Sport on Tropicana Ave When I lived in Vegas. It was always crowded, even when I went every day around 4 am. I wonder what those gym members will do now. The remaining open 24 Hr gyms are not very close. I workout there everytime I'm in Vegas, but not anymore. There were a lot of people working out at the Tropicana Super Sport over the Olympia Weekend. It's only a few blocks west of The Orleans. At least the 24 Hr gym I go to in San Diego made the cut.
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I was told that Arnold won’t let’s Golds Venice close and may eventually step in if needed
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I was told that Arnold won’t let’s Golds Venice close and may eventually step in if needed
This is great if true.
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Any comments on xfactor?You came on here backing him up that he was a bigshot off the forum and he turned out to be a nobody at some mom and pop shop
what happened? Hahaha
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what happened? Hahaha
Justplainjane doxxed him, found out his name, job, address etc.Hie whole life was a lie and he is just some grunt at a local family owned business.he hasnt been seen since on here.
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Justplainjane doxxed him, found out his name, job, address etc.Hie whole life was a lie and he is just some grunt at a local family owned business.he hasnt been seen since on here.
Many assumed he was some grunt but what if he is high up on the totem pole? The company had a good amount of employees he could easily be making 7 figures.
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Just had to sign waiver for Golds reopening. They have a line where a guy in front takes your temperature to get in then you sign waiver. Certain Machines are closed so people are not next to each other on machines. Honestly not sure what I signed. Knowing new Gold's management it may be some bullshit other than just Corona.
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Any comments on xfactor?You came on here backing him up that he was a bigshot off the forum and he turned out to be a nobody at some mom and pop shop
Xfactor was a good guy, don’t understand all the hate, unlike groink and a handful of losers on here, that’s saying a lot
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24 Hour Hours now on some of the clubs.. with senior time...
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24 Hour Hours now on some of the clubs.. with senior time...
You don't even workout. This might motivate you.
https://www.dailymotion.com/video/x1nnsv (https://www.dailymotion.com/video/x1nnsv)
(https://images.moviefit.me/p/o/166520-tabatha-cash.jpg)
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Xfactor was a good guy, don’t understand all the hate, unlike groink and a handful of losers on here, that’s saying a lot
Exactly.
A lot of people were jealous of XFACTOR. Sure, he bragged and maybe up played some stuff, but overall, he appears to lead a good life.
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Exactly.
A lot of people were jealous of XFACTOR. Sure, he bragged and maybe up played some stuff, but overall, he appears to lead a good life.
a lot of guys get tons of sh!t thrown their way on here but still stick around, don't see the reason why anyone should leave for good
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Xfactor was a good guy, don’t understand all the hate, unlike groink and a handful of losers on here, that’s saying a lot
Xfactor went after planejane, she then went after him and in the process outed him.
Making a thread just to go after someone must involve some genuine hate. Xfactor did that, planejane did not...
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a lot of guys get tons of sh!t thrown their way on here but still stick around, don't see the reason why anyone should leave for good
Because someone contacted his wife.
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a lot of guys get tons of sh!t thrown their way on here but still stick around, don't see the reason why anyone should leave for good
Agreed, who cares what any knucklehead on here thinks of you?