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New York City Sports Club Owner Town Sports International Introduces Chapter 11 on Bankruptcy Protection

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NEW YORK (WABC) – The owner of the New York Sports Club says he is filing for Chapter 11 bankruptcy protection.

Town Sports International announced Monday that it has reached an agreement with its secured old lenders to support its ongoing operations through a Chapter 11 voluntary registration.

Registration includes New York Sports Clubs, Boston Sports Clubs, Philadelphia Sports Clubs Washington Sports Clubs, Lucille Roberts, Total Woman and About Clock Fitness brands.

“With Chapter 11, companies generally require an interrupted transition in operations after a registration, so our members will not recognize a service interruption,” the company said in a letter to its members.

The company added that it will not go out of business, but “restructuring is the best way to properly respond to the COVID-19 pandemic, with the long-term goal of emerging as a thriving powerhouse in the fitness industry.”

Town Sports International says they are continuing to open their clubs in stages.

Read the full letter to members HERE.

RELATED: Gyms reopen with restrictions in New York City

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