Goldís Gym has declared bankruptcy

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Thread: Goldís Gym has declared bankruptcy

  1. #1
    Join Date
    Apr 2018
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    Default Goldís Gym has declared bankruptcy

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    The first of many, Iím sure. Just the other day was seeing people saying the potential damage to the fitness industry was overhyped. Goldís didnít have the best business practices, to be sure, but Iím much less surprised at this news than I would have been six months ago. Will be interesting to see the predicative power of some of the statements about this issue borne out over the next few months.

  2. #2
    Join Date
    Mar 2019
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    Rest in pieces, shitbags.

  3. #3
    Join Date
    Aug 2013
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    Phoenix, AZ
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    Bankruptcy does not necessarily mean out of business. I'm sure they were due for this for a while now.

  4. #4
    Join Date
    Jan 2018
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    640

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    I guess there's only like 30 Corporate Owned gyms.

    The franchises (700), which is most of what you see in your local area, are unaffected by this 'bankruptcy' (so far).

    Franchises Unaffected
    Gold’s, which traces its roots back to 1965, began as a gym in Venice, California. It now operates more than 700 gyms around the world, according to its website. Through the bankruptcy process, the company will close about 30 company-owned gyms, mainly in the St. Louis, Alabama and Colorado Springs markets, it said. Gyms owned by franchisees won’t be affected by the restructuring, according to the company’s website.

  5. #5
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    Mar 2019
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    No there are far more than 30 corporate gyms. They plan on closing 30 corporate gyms, out of hundreds

  6. #6
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    They are going to renegotiate the debt, reduce the number of gyms, and operate with fewer liabilities. No better time to do it than now.

  7. #7
    Join Date
    Mar 2019
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    starting strength coach development program
    Quote Originally Posted by Robert Santana View Post
    They are going to renegotiate the debt, reduce the number of gyms, and operate with fewer liabilities. No better time to do it than now.
    Yep. Downsizing has been in the plans for a while now, I would bet.

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