Bally Total Fitness Files Chapter 11

  • December 3, 2008
Bally Total Fitness Corporation has filed for voluntary chapter 11 bankruptcy protection. The company says it will use the chapter 11 process to cut debt and strengthen its core operations. The company says it will either sell the business or reorganize.

Bally says it has "received strong indications of interest from a number of prospective purchasers."

Bally Total Fitness is among the largest commercial operators of fitness centers in the U.S., with 347 facilities operating under the Bally Total Fitness and Bally Sports Clubs brands. --Karl Greenberg

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