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fibodo Limited
fibodo Limited
fibodo Limited
Health Club Management

Health Club Management

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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

Investors, led by Tacit Capital, are working to buy Town Sports International out of Chapter 11

Town Sports International – which operates a raft of brands, including the New York Sports Club and Boston Sports Club – is looking to secure a takeover deal to safeguard its long-term future, following its recent move into Chapter 11.

On 14 September, Town Sports became the latest US fitness operator to file for bankruptcy protection, following Gold’s Gym International (in May) and 24 Hour Fitness (June).

The company is looking to sell itself out of bankruptcy by securing a deal with a group of lenders, led by Tacit Capital, to provide the finance needed to keep its clubs open.

Town Sports said it intends to use the Chapter 11 process to restructure its debts and to position the company for "long-term success".

"We are not going out of business," a spokesperson said.

"Restructuring is the best way to properly respond to the COVID-19 pandemic, with the long-term goal being to emerge as a thriving powerhouse in the fitness industry.

"The goal is to emerge from Chapter 11 as an even stronger company, better positioned to serve members into the future."

The company will continue to operate its facilities and plans to continue to reopen clubs in a phased approach in regions where lockdowns are being eased.

Town Sports operates the New York Sports Clubs, Boston Sports Clubs, Philadelphia Sports Clubs, Washington Sports Clubs, Lucille Roberts, Total Woman and Around the Clock Fitness brands.

In January, Town Sports announced plans to acquire the studio business of indoor cycling specialist Flywheel Sports – a deal which subsequently fell through due to the pandemic.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Town Sports International – which operates a raft of brands, including the New York Sports Club and Boston Sports Club – is looking to secure a takeover deal to safeguard its long-term future, following its recent move into Chapter 11.
HAF,FIT,IND,PTS
2020/THUMB346268_708491_205780.jpg
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News

Investors, led by Tacit Capital, are working to buy Town Sports International out of Chapter 11

Town Sports International – which operates a raft of brands, including the New York Sports Club and Boston Sports Club – is looking to secure a takeover deal to safeguard its long-term future, following its recent move into Chapter 11.

On 14 September, Town Sports became the latest US fitness operator to file for bankruptcy protection, following Gold’s Gym International (in May) and 24 Hour Fitness (June).

The company is looking to sell itself out of bankruptcy by securing a deal with a group of lenders, led by Tacit Capital, to provide the finance needed to keep its clubs open.

Town Sports said it intends to use the Chapter 11 process to restructure its debts and to position the company for "long-term success".

"We are not going out of business," a spokesperson said.

"Restructuring is the best way to properly respond to the COVID-19 pandemic, with the long-term goal being to emerge as a thriving powerhouse in the fitness industry.

"The goal is to emerge from Chapter 11 as an even stronger company, better positioned to serve members into the future."

The company will continue to operate its facilities and plans to continue to reopen clubs in a phased approach in regions where lockdowns are being eased.

Town Sports operates the New York Sports Clubs, Boston Sports Clubs, Philadelphia Sports Clubs, Washington Sports Clubs, Lucille Roberts, Total Woman and Around the Clock Fitness brands.

In January, Town Sports announced plans to acquire the studio business of indoor cycling specialist Flywheel Sports – a deal which subsequently fell through due to the pandemic.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Town Sports International – which operates a raft of brands, including the New York Sports Club and Boston Sports Club – is looking to secure a takeover deal to safeguard its long-term future, following its recent move into Chapter 11.
HAF,FIT,IND,PTS
2020/THUMB346268_708491_205780.jpg

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Working in partnership with Berkley Care Group, we’ve developed a bespoke training programme to improve and maintain fitness and mobility in older adults
HCM Magazine
Butt, bottom, booty, bum – whatever you call it, working the backside is a vital part of the balance, power and wellbeing equation and has been ignored for too long, as Tom Tawell reports
HCM Magazine
Sponsored
Deansgate Square, the newest residential star on Manchester’s impressive skyline, is a fitting home for some of the city’s most stylish health and fitness facilities, with specialist acoustic flooring by TVS Group
HCM Magazine
Research
Regular sessions of new-generation yoga can help tackle the lockdown blues, increase sleep quality and boost mental health
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Our road map is to manage leisure facilities, developing them into community hubs and ensuring the most in need get the most support
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Catalogue Gallery
Click on a catalogue to view it online
Directory
Lockers/interior design
Fitlockers: Lockers/interior design
Spa software
SpaBooker: Spa software
Member feedback software
AskNicely: Member feedback software
Design consultants
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Uniforms
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FunXtion International BV: Fitness Software
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Property & Tenders
11 - 25 Union St, London SE1 1SD
Bankside Open Spaces Trust
Property & Tenders
Waltham Abbey, Essex
Lee Valley Regional Park Authority
Property & Tenders
Diary dates
27-28 Nov 2020
Athena, Leicester, United Kingdom
Diary dates
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Diary dates
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Diary dates
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fibodo Limited
fibodo Limited