24 Hour Health and fitness has submitted for Chapter eleven personal bankruptcy safety in Delaware citing fallout from the COVID-19 pandemic that forced it to near its gyms throughout the United States in the center of March.
The company completely shut 100 gyms in the U.S. and has about three hundred remaining. It expects a greater part of its places to be reopened by the end of June.
In its filing, the company explained it has secured $250 million in debtor-in-possession funding to proceed operations as it reopens. In accordance to a report from Bloomberg, the company drew down its