Town Sports International, which owns Boston Sports Club, New York Sports Club and other gyms, filed for Chapter 11 bankruptcy Monday morning.
Town Sports International, which owns Boston Sports Club, New York Sports Club and other gyms, filed for Chapter 11 bankruptcy Monday morning.
As the coronavirus pandemic continues to take a toll on the fitness industry, the parent company of Boston Sports Club has been burdened by financial strains for months.
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Gym operators nationwide -- large and small -- have been suffering as the pandemic cut off the monthly membership and personal training fees that make up much of their revenue.
The company said on its website that its facilities would continue to operate normally, saying the move was made to restructure to face challenges posed by the pandemic.
"Restructuring is the best way to properly respond to the COVID-19 pandemic, with the long-term goal to emerge as a thriving powerhouse in the fitness industry," the company said in a statement.
Several members of BSC filed a class action lawsuit against the club in April, claiming they continued to charge members despite the closure of its facilities back in March.
Town Sports sent out an email shorty after notifying people that they company was freezing memberships at no cost while their facilities were shut down due to the pandemic.
What began as a small chain of squash clubs in New York City in 1973 has grown to 185 fitness centers, including with about 580,000 members.
Town Sports also owns gyms in Philadelphia and Washington, D.C. named for those cities, as well as as Lucille Roberts and Total Woman Gym and Spa.
