NEW YORK – National gym chain 24 Hour Fitness filed for bankruptcy on Monday and announced that it will be closing 100 gyms across the U.S., including several in South Florida.
CNN reported that the company stated in its Chapter 11 filing that it has secured $250 million in funding to help reopen some of its clubs, although 100 gyms in 14 states would be shuttered.
That leaves the company with about 300 clubs.
Below is a list of the 24 Hour Fitness locations that will be closed in South Florida:
Town & Country Sport
8400 Mills Drive, Miami.
Coconut Grove
2982 Grand Ave., Miami.
Miami Cutler Ridge Sport
20851 Dixie Drive Highway, Miami
Pembroke Pines Sport
8333 Pines Blvd., Pembroke Pines
Boynton Beach Super Sport
1775 N. Congress Ave., Boynton Beach
Clubs in Orlando and Greenacres will also be closed.
All remaining clubs should be reopened by the end of the month.
“If it were not for Covid-19 and its devastating effects, we would not be filing for Chapter 11,” CEO Tony Ueber said in a statement to CNN. “We expect to have substantial financing with a path to restructuring our balance sheet and operations to ensure a resilient future.”
Ueber said the restructuring will also help the company reinvest in their existing clubs and assist them in “introducing several new innovative products and services.”
24 Hour Fitness opened in 1985 and is a privately held company.
Copyright 2020 by WPLG Local10.com – All rights reserved.
