Gold's Gym Officially Files for Chapter 11 Bankruptcy

Gold’s Gym Officially Files for Chapter 11 Bankruptcy

Popular gym and hangout spot Gold’s Gym has officially disclosed a bankruptcy plan. Sad news for all people associated with the gymnasium company.

Gold’s Gym permanently closed around 30 stores worldwide back in March when COVID shut everything down. When they had to close down further on, many wondered how they’d survive.

Luckily, they are planning on reopening and restructuring the remaining 700+ gyms. So there is a bright spot and they aren’t done for.

They stated that they don’t plan on this bankruptcy to affect current operations. While they do have to rethink how they wish to reopen, they’re optimistic about the outcome.

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This news has hit a little bit harder when earlier in this month clothing brand J.Crew filed for bankruptcy. Showing just how harsh COVID has hit certain business industries.

As closures around the world become more and more stretched as quarantines rage on. Leading to some rather stressed responses from the public to reopen. Now we see how some companies simply cannot survive the longer that we stay closed.

Hopefully things improve for businesses like Gold’s and J.Crew, as we push towards soft reopenings. Certainly things will not continue like this forever, but we just have to wait for official news.


For more updates on Gold’s and closures, keep it glued here to Scoophash!