24 Hour Fitness is filing for bankruptcy and is citing the impact of the coronavirus pandemic as a reason for its Chapter 11 filing. As a result of the company’s filing, 130 gym locations across 14 states will be closed.
That leaves approximately 300 24 Hour Fitness locations operational.
“24 Hour Fitness is dedicated to the health and wellness of our members, our team members and the communities we serve, and has been for more than 35 years. With the dramatic impact of the COVID-19 pandemic on the economy and the fitness industry, we are announcing a financial restructuring through a voluntary Chapter 11 filing that we expect will make us a stronger company,” a statement read on social media. “We will continue reopening clubs with a focus on uninterrupted service to our members, and we’ll be able to reinvest in existing clubs, open new clubs, and offer new innovations to better serve you long into the future.
“You provide the inspiration for what we do, and we are deeply grateful to you for your continued loyalty and commitment to 24 Hour Fitness. We’re excited to welcome you back to our gyms!”
The coronavirus mainly comes from animals and a majority of those who were infected early either worked at or frequently visited the Huanan seafood wholesale market in Wuhan, according to The Guardian. The virus is similar to Severe acute respiratory syndrome (Sars) and Middle Eastern respiratory syndrome (Mers).
The Wuhan coronavirus is transmitted from person to person through “droplet transmission.” That means an infected person can pass the virus by sneezing or coughing on another person as well as by direct contact.
While a majority of the cases have been detected in the United States and China — with more than 117,000 deaths in the United States — it has now reached many countries around the world. It has also been confirmed in Italy, Australia, Canada, France, Germany, and many other eastern countries.