“24 Hour Fitness weighs bankruptcy as coronavirus pushes fitness industry to brink”
April 22, 2020
“Gym chain 24 Hour Fitness is working with advisors at investment bank Lazard and law firm Weil, Gotshal & Manges to weigh options including a bankruptcy that could come as soon as the next few months, people familiar with the matter tell CNBC.
The chain is grappling with a heavy debt load, deteriorating performance and a coronavirus pandemic that forced it to shut its more than 400 clubs. The mid-priced fitness studio is already struggling to compete against premium rivals like Equinox and cheaper competitors like Planet Fitness…”
https://www.cnbc.com/2020/04/18/24-hour-fitness-weighs-bankruptcy-amid-coronavirus-pandemic.html