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24 Hour Fitness files for bankruptcy and closes 100 gyms (Reorg)
CNN Business ^ | June 15, 2020 | Jordan Valinsky

Posted on 06/15/2020 8:35:06 AM PDT by vespa300

24 Hour Fitness said Monday in its Chapter 11 filing that it has secured $250 million in funding to help reopen some of its clubs and expects a majority of locations to be open by the end of June. However, it's emerging as a smaller chain: It permanently closed 100 US locations in 14 states with roughly 300 clubs remaining.

(Excerpt) Read more at cnn.com ...


TOPICS:
KEYWORDS: 24hour; economy; fitness; gym
Mine is still open but too many check in rules. LA Fitness better.
1 posted on 06/15/2020 8:35:07 AM PDT by vespa300
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To: vespa300

I want to know how to cancel my contract with them.

They have charged me for 4 months and zero ability to use their facility and now I have to make an appointment, limit my time and it looks like wear a mask while working out.


2 posted on 06/15/2020 8:52:19 AM PDT by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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To: Vendome

No mask required here in North Dallas but the appointment and limited time really suck.


3 posted on 06/15/2020 8:54:34 AM PDT by vespa300
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To: vespa300

to my way of thinking they have altered the contract


4 posted on 06/15/2020 9:01:41 AM PDT by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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To: vespa300
24 Hour Fitness didn't have Financial Fitness!! 😋
5 posted on 06/15/2020 9:26:28 AM PDT by Deplorable American1776 (Proud to be a DeplorableAmerican with a Deplorable Family...even the dog is, too. :-))
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To: Vendome

Almost joined them last year, specifically because of the convenience of going whenever I wanted (e.g. - if you can’t sleep, or are up early, etc.). As you well know, they aren’t inexpensive, and if you don’t have the advantages of going whenever you want, what’s the point?


6 posted on 06/15/2020 10:20:31 AM PDT by neverevergiveup
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To: vespa300

I joined LA Fitness in Jan...light years better than Planet Fitness here in Dayton,OH


7 posted on 06/15/2020 10:24:34 AM PDT by newfreep
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To: vespa300

Same old business model of decades ago. Set up a gym. Solicit ‘members’ on a contract basis. When gym is over-populated, declare bankruptcy, keep the cash from up-front contracts to start under a different name.


8 posted on 06/15/2020 10:31:24 AM PDT by RideForever (We were born to be tested)
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To: Deplorable American1776

“24 Hour Fitness didn’t have Financial Fitness!!”

They definitely need one.

I had a 24 Hour Fitness Ultra Club membership for 23 years, with a no contract, month to month membership. They never raised my $69 monthly fee. Typically a high end gym membership would be $150-200 per month and require a contract.


9 posted on 06/15/2020 12:47:53 PM PDT by chrisinoc
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To: chrisinoc

Never have gone to a gym (well, Jr. High & H.S. exempted)..

Manual Labor for the last 40+ years has saved a lot of $$$$...


10 posted on 06/15/2020 12:56:31 PM PDT by dakine
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