24 Hour Fitness Is Submitting for Chapter 11 Financial disaster

Joining the growing different of well-liked chains hit onerous by the continuing coronavirus pandemic, 24 Hour Fitness launched this present day that or no longer it is filing for Chapter 11 financial disaster. As portion of its monetary restructuring, the nationwide gymnasium chain is additionally planning on closing clubs that are out-of date or finish to totally different areas.

In mid-March, 24 Hour Fitness closed all of its areas as a consequence of the pandemic. “If it weren’t for COVID-19 and its devastating outcomes, we would possibly no longer be filing for Chapter 11,” 24 Hour Fitness CEO Tony Ueber talked about in a observation. “With that talked about, we desire to make use of the direction of to support the draw in which forward for 24 Hour Fitness for our physique of workers and club contributors, as correctly as our stakeholders.”

At the side of its financial disaster, 24 Hour Fitness expects to get $250 million in financing, that will encourage it reopen the clubs it has made up our minds to retain. But as some areas are initiating to reopen in phases after temporarily shuttering their doorways, 134 clubs all over 14 states will be closing completely. In the direction of the phased re-openings, all club contributors at every degree will have salvage admission to to any on hand space thru the discontinuance of 2021.

All gyms will be imposing novel security protocols: To encourage with social distancing, 24 Hour Fitness will be limiting the different of alternative folks within the gymnasium at one time. There’ll additionally be enhanced cleaning procedures for the duration of the day. In elaborate to facilitate overnight cleaning, clubs will no longer be originate for 24 hours. As an alternative, the novel hours are from 5 a.m. to 9 p.m.

Wish to understand the scheme of your native 24 Hour Fitness club? Derive the corpulent list of club closures right here and which clubs are reopening right here.

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