This Beloved Gym Chain Is Closing 100 Locations
If you're a member at this gym, your local branch may be disappearing in the near future.
If you're eager to get back into the gym after months at home, you're not alone. However, for members of one gym chain, that workout space may not be there to return to. 24 Hour Fitness has announced that it will be closing 100 of its gyms across 14 states and filing for Chapter 11 bankruptcy. In his statement on June 15, 24 Hour Fitness CEO Tony Ueber didn't mince words when it came to identifying the culprit behind the company's financial woes: "If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11."
However, Ueber assured members that approximately 300 of the gym's facilities will stay open. He also hinted that there may be potential for expansion in the future.
In closing some of the chain's gyms, "we will gain financial strength and flexibility to accelerate our business transformation plan, which includes reinvestment in our existing clubs, opening new clubs and introducing several new innovative products and services that will enhance the fitness experience for our club members and guests for many years to come," said Ueber.
Luckily, even if your local 24 Hour Fitness branch is closing, that doesn't mean you'll need to start an immediate search for a new gym. Ueber also announced that all of 24 Hour Fitness' four million members, no matter their current membership level, will be able to work out in any of the chain's remaining gyms through the end of 2020.
24 Hour Fitness isn't the only gym chain that's been hit hard by COVID-19; in May, Gold's Gym announced its own Chapter 11 filing, as well as plans to shutter 30 of its gyms. Gold's still has nearly 700 gyms around the world. And if you're resuming your workouts, read up on The Worst Thing You Can Touch at the Gym, the CDC Says.