Gold’s Gym to Be Bought Out of Bankruptcy by German McFit Owner
- Berlin-based RSG will pay about $100 million for Gold’s
- Gym was beset by the pandemic, filed bankruptcy in May
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RSG Group GmbH, the Berlin-based fitness company that owns the McFit chain, won a court-approved auction to buy Gold’s Gym for $100 million, according to a news release.
Gold’s saw its business drop during the Covid-19 pandemic and filed for court protection in May. The company tapped a $20 million bankruptcy loan shortly after to keep operating even as most of its gyms remained shut.