24 Hour Fitness announced today that they are “implementing a financial restructuring through a voluntary Chapter 11 filing”. The plan includes closing 100 locations in the US, 52 of them in Texas including their location here in Round Rock.
“On June 15, 2020, we announced an important step to strengthen 24 Hour Fitness for the long-term. We are implementing a financial restructuring, through a voluntary Chapter 11 filing. This process gives us the opportunity to reposition 24 Hour Fitness by eliminating debt and closing clubs that were either out-of-date or in close proximity with other 24 Hour Fitness clubs.
Removing these financial and operational constraints allows us to focus entirely on transforming our business and the club experience for the better. We will have the financial flexibility and resources to upgrade equipment and expand and improve our fitness offerings to best serve our members and continue our transformational journey.
We have refreshed the club environment for the health and safety of our club members. As we continue to reopen clubs in a phased approach, you can learn more about the club environment here.
While we reopen clubs, all members will have access to any available 24 Hour Fitness club through the end of 2020, regardless of membership level. For updates and further news about our phased club reopenings and locations, please visit us at https://www.24hourfitness.com/health_clubs/gyms-open-near-me.
We are deeply grateful for your continued loyalty to 24 Hour Fitness. You provide the inspiration for what we do, and we are excited to continue supporting you along your fitness journey well into the future.“