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Gold’s Gym Files for Bankruptcy Protection Amid Fitness Closures

  • Some 30 locations set to shut as part of Chapter 11 plan
  • Company with roots back to 1965 will also try to sell itself
People work out at a Gold’s Gym on March 16.

People work out at a Gold’s Gym on March 16.

Photographer: Alex Wong/Getty Images North America

Gold’s Gym International Inc. sought court protection from its creditors, unable to keep up with debt payments after the prolonged shutdown caused by the coronavirus outbreak.

The gym operator filed for bankruptcy in Dallas, listing as much as $100 million in assets and liabilities, according to court papers. Chapter 11 bankruptcy allows a company to keep operating while it works out a plan to pay lenders and ease its load.