Author Topic: Bally Total Fitness may file for Chapter 11  (Read 4458 times)

abz

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Bally Total Fitness may file for Chapter 11
« on: March 15, 2007, 04:10:49 PM »

Gym operator Bally Total Fitness Holding Corp. (BFT.N: Quote, Profile , Research) on Thursday said it has may have to file for Chapter 11 bankruptcy protection from creditors if it is unable to restructure it's debt.

The company said it has $45 million in cash and $827 million in outstanding debt.

Chicago-based Bally also said it told the U.S. Securities and Exchange Commission that it is unable to file its annual report for 2006.


Hunter86

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Re: Bally Total Fitness may file for Chapter 11
« Reply #1 on: March 15, 2007, 04:18:16 PM »
Bally's is fucking a hardcore place to train  ::)

Rockhead

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Re: Bally Total Fitness may file for Chapter 11
« Reply #2 on: March 15, 2007, 04:30:45 PM »
Sounds like the mgt team at Bally's is a bunch of freaking idiot's. 

Pollux

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Re: Bally Total Fitness may file for Chapter 11
« Reply #3 on: March 15, 2007, 04:38:36 PM »
Why couldn't this shit happen to Planet Fitness?  :(

ribonucleic

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Re: Bally Total Fitness may file for Chapter 11
« Reply #4 on: March 15, 2007, 04:40:31 PM »
Sounds like the mgt team at Bally's is a bunch of freaking idiot's. 

<< The fitness club chain also said membership collections have continued to fall through the first 11 weeks of this year, a trend that will continue "at least" through 2008 >>

http://biz.yahoo.com/rb/070315/ballytotalfitness_bankruptcy.html?.v=3

BWAHAHAHAHA!!!!!

jaejonna

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Re: Bally Total Fitness may file for Chapter 11
« Reply #5 on: March 15, 2007, 06:26:40 PM »
where am I going to lift ?
L

Benny B

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Re: Bally Total Fitness may file for Chapter 11
« Reply #6 on: March 15, 2007, 08:15:49 PM »
good riddance  >:(
!

Pollux

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Re: Bally Total Fitness may file for Chapter 11
« Reply #7 on: March 15, 2007, 08:22:35 PM »
where am I going to lift ?

You lift?  ???

Disgusted

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Re: Bally Total Fitness may file for Chapter 11
« Reply #8 on: March 15, 2007, 08:28:13 PM »
Why couldn't this shit happen to Planet Fitness?  :(

It will.

240 is Back

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Re: Bally Total Fitness may file for Chapter 11
« Reply #9 on: March 15, 2007, 08:34:50 PM »
Did Bally's expand too quickly in 2004-2005, the false real estate boom?

ThaRealist

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Re: Bally Total Fitness may file for Chapter 11
« Reply #10 on: March 15, 2007, 08:50:35 PM »
To anyone in the fitness industry this is not new news....Bally's has been in debt for years and everyone knew there was no way they could get out....
You Can't Do It!!!

kh300

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Re: Bally Total Fitness may file for Chapter 11
« Reply #11 on: March 15, 2007, 09:06:11 PM »
ballys had a few scams going,, join for only 19 dollars a month.. but unless you read the 10th page of the fine print contract, you wont realize after 2 months they start charging 80 a month for the next 2 years.

ThaRealist

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Re: Bally Total Fitness may file for Chapter 11
« Reply #12 on: March 15, 2007, 09:20:43 PM »
It will.

How do you figure????...Planet Fitness are all independently owned not a corporation and they have an excellent marketing strategy also...Each Planet Fitness would have to go bankrupt independently per personal ownership not as a whole...You are an expert...Right???
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kh300

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Re: Bally Total Fitness may file for Chapter 11
« Reply #13 on: March 15, 2007, 09:24:34 PM »
i love planet fitness. when one opend up down the road from my powerhouse it was the greatest thing, all the fags and old woman left

ThaRealist

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Re: Bally Total Fitness may file for Chapter 11
« Reply #14 on: March 15, 2007, 09:28:45 PM »
i love planet fitness. when one opend up down the road from my powerhouse it was the greatest thing, all the fags and old woman left

Exactly...Planet Fitness is so successful because they market to around 80% of the population...(Most of the people that are not really serious about their fitness) Also they have cheap rates to boot...There is no better marketing than selling a bunch of gym memberships to people that don't workout seriously, that can afford it and that will never use the gym equipment enough to wear it down....
You Can't Do It!!!

kh300

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Re: Bally Total Fitness may file for Chapter 11
« Reply #15 on: March 15, 2007, 09:37:46 PM »
yup, and i used to go to a golds that was split up into 2 sections.. they had a big room with nautolis equiptment and light dumbbels for the older people and stuff.. the other side you could use chalk and had heavy db's. caters to both types

ThaRealist

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Re: Bally Total Fitness may file for Chapter 11
« Reply #16 on: March 15, 2007, 09:42:22 PM »
yup, and i used to go to a golds that was split up into 2 sections.. they had a big room with nautolis equiptment and light dumbbels for the older people and stuff.. the other side you could use chalk and had heavy db's. caters to both types

I ran a gym in that style before...Needless to say I was making no money off the powerlifters/bodybuilders(Only because there were so few of them) so I shut that section down and turned it into a woman's circuit training area...Business got much better after that...Go figure....
You Can't Do It!!!

bigben280

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Re: Bally Total Fitness may file for Chapter 11
« Reply #17 on: March 15, 2007, 09:56:45 PM »
Bally's is a nice place to workout but i used to work for them and it is one of the biggest scammers in the industry.  Just for your info. when you sign up for one of those boxes (drawings) that says" win a year on it. You fill it out and NO ONE wins a year and EVERYONE wins a two-week pass, they get you into the facilty to "DRAW and SEE" if you win the year, well you dont you get two weeks free OR you can sign up now and trade your "free two week pass" for a NO Start up fee , if you dont sign up then, you have to (for whatever reason) give them your social security number (you woudnt even believe how many people gave it with no questions) and they "the Sales Manager" would end up making up fake contracts and RUINING there credit for a LONG time----you may not even know you even have a contract for a year or two,---the club gets extra money or bonus for the more people they sign, legal or NOt....It was the most unhonest establishment i have ever seen--So i stay MILES clear of Bally, its unfortunate because I liked the gym, it had good equipment...plus they scammed the employees, they would always pay you a day later than suppossed to, because the longer they have your money to invest and move, the more millions and billions they make, if your supposed to get paid on friday, ITS ALMOST ALWAYS on sat or monday....DO NOT WORK THERE, they will try to mess your credit up too, take it from me.

Hunter86

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Re: Bally Total Fitness may file for Chapter 11
« Reply #18 on: March 15, 2007, 10:43:41 PM »
i love planet fitness. when one opend up down the road from my powerhouse it was the greatest thing, all the fags and old woman left


So I take it you train at Planet Fitness now too?

Dingleberry

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Re: Bally Total Fitness may file for Chapter 11
« Reply #19 on: March 15, 2007, 10:56:59 PM »
Makes sense, Bally's just contacted a co-worker of mine and offered him some type of crazy discount to "come back". I wanna say 45 bucks a year. I may be off but it was around the same price as other fitness centers monthly rates. Personally, I'd do a '"Daddywaddy special" and work out with cinder blocks in my garage before I set foot in a Bally's.
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Re: Bally Total Fitness may file for Chapter 11
« Reply #20 on: March 15, 2007, 11:06:33 PM »

kh300

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Re: Bally Total Fitness may file for Chapter 11
« Reply #21 on: March 15, 2007, 11:07:49 PM »


So I take it you train at Planet Fitness now too?
:(

Cleanest Natural

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Re: Bally Total Fitness may file for Chapter 11
« Reply #22 on: March 16, 2007, 12:59:42 AM »
amen..i hate the atmosphere there  :)

BigSexy50

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Re: Bally Total Fitness may file for Chapter 11
« Reply #23 on: March 16, 2007, 06:25:01 AM »
It will.

I got a lot of respect for your opinion on bodybuilding.  But I am in the industry, your comment is very far from the truth.

homer77

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Re: Bally Total Fitness may file for Chapter 11
« Reply #24 on: March 16, 2007, 06:30:58 AM »
Bally's is out due to the way they run their business.  My wife was a trainer there (not long) a few years back.  They dont do personal training, they find suckers and take their money.  They emphisized making money and not getting client results.  Because if the client saw slow results they would need more training and hense more $ for ballys.  A shitty way to do business.  Im actually surprized they are going under with all the tv ads that suck people in.  I know so many people with an unused ballys membership.