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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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HCM Magazine
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TVS was selected because of its dual ability to address acoustic requirements and specify, supply and install high quality sports flooring solutions
HCM Magazine
Sponsored
Andy Hall, COO of data and tech solutions brand, Volution, looks at the trends we can expect to see emerging in the global fitness market in 2021
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Research
New research from the Karolinska Institutet in Sweden, has established why people who exercise when suffering from cancer generally have better outcomes
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Ruskin Fitness Club has transformed its gym in partnership with Technogym, adding the new Excite Live line, as well as dedicated workout zones
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Opinion: Jetts Fitness – Brilliant Basics, Maslow’s Hierarchy of Needs, and Net Promoter Score®
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Featured supplier: Converting members in January has never been so simple with Volution’s new Lead Generation tool
Volution – the leading data solutions specialist for the fitness industry – has launched a Lead Generation tool that enables operators to harness the power of mobile technology and cloud-based infrastructure to streamline sales.
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Supplier Showcases
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Catalogue Gallery
Click on a catalogue to view it online
Directory
Direct debit solutions
Harlands Group: Direct debit solutions
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Management software
fibodo Limited: Management software
Locking solutions
Monster Padlocks: Locking solutions
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
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Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Software
Volution.fit: Software
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MyZone: Wearable technology solutions
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11 - 25 Union St, London SE1 1SD
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