
Thanks to a reader for sending from Washington Sports Clubs:
“On September 14, 2020, Town Sports International LLC announced that it and a number of its affiliates have filed voluntary Chapter 11 petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. To learn more, please visit here.
Town Sports intends to use the Chapter 11 process to engage in further discussions with their landlords and other creditors to successfully restructure their debts to best position the Company for long-term success in the current fitness industry environment. This includes our New York Sports Clubs, Boston Sports Clubs, Philadelphia Sports Clubs, Washington Sports Clubs, Lucille Roberts, Total Woman, and Around the Clock Fitness brands. With Chapter 11, companies generally seek a seamless transition in operations upon a filing, so our members will not recognize a break in service. Town Sports International is not going out of business. (more…)