They are on their last legs The Venice location is already owned by Google, it's hard to imagine that Golds in bankruptcy can resist Google just taking over the whole thing. We'll see. But whatever happens, it will be a different Golds, as in bankruptcy they will have to show profitability to creditors,etc and this will be no more hardcore bodybuilding, too small of a niche.
Enjoy the end of Golds as you knew it. They are trying to say everything is ok and it's just "restructuring debt" but it's not.
Gold's Gym files for bankruptcy after blow from coronavirus pandemic
CBS NEWS MAY 5, 2020
Gold's Gym has filed for Chapter 11 bankruptcy protection, the company announced Monday. Its 700 gyms worldwide will stay open as it looks to restructure during the coronavirus pandemic that has virtually shutdown the entire U.S. economy.
Last month, Gold's Gym permanently closed about 30 company-owned gyms during the COVID-19 outbreak. The company at the time said the decision was made "to maintain the strength and growth of the potential of the brand as well as ensure the continued viability of the company for decades to come."
The company said the filing Monday will not have further impact on its current operations and plans to emerge from bankruptcy by August. "The company will be seeking court approval to continue paying suppliers, vendors, and employees in the ordinary course on a go-forward basis," they explained. "No single factor has caused more harm to our business than the current COVID-19 global pandemic."
