Coronavirus Tips Ailing Gym Chain 24 Hour Fitness Into Bankruptcy

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Coronavirus Tips Ailing Gym Chain 24 Hour Fitness Into Bankruptcy
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Gym chain 24 Hour Fitness filed for bankruptcy protection Monday, and aims to permanently shut down 135 of its 445 gyms throughout the U.S.

Gym chain 24 Hour Fitness Worldwide Inc. filed for bankruptcy protection Monday as it deals with the fallout from temporarily closing its locations due to the Covid-19 pandemic.

The San Ramon, Calif., company, which is owned by private-equity firm AEA Investors LP and the Ontario Teachers’ Pension Plan, aims to permanently shut down 135 of its 445 gyms throughout the U.S. The gym chain, which has about 3.4 million members, plans to reopen most remaining locations by the end of June.

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