NY Sports Club latest chain to seek bankruptcy protection
Gold’s Gym sought bankruptcy protection in May 2020.
24 Hour Fitness Worldwide filed for bankruptcy in June 2020.
Other gyms, including Planet Fitness, have furloughed workers in order to conserve cash.
New York Sports Club and Lucille Roberts are also now in bankruptcy.
Town Sports International Holdings Inc., which also operates New York Sports Club, Lucille Roberts, Washington Sports Club and Total Woman Gym and Spa, recently said that it can no longer pay its debts. Town Sports operates 185 clubs and serves 580,000 members.
Gyms have been allowed to reopen at a fraction of their capacity in some regions like the Northeast. Those who do go to gyms in New York City are required to wear a mask at all times and gyms can only operate at one-third capacity. Group fitness classes are still not permitted.
Some of the companies, that sell home fitness equipment, have done well this past quarter.
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