• Loading stock data...
Saturday, July 5, 2025

24-Hour Bankruptcy

Treadmill
Photo Credit Alicia Devine/Tallahassee Democrat

The struggles of gyms and the fitness industry from the coronavirus pandemic has continued, claiming 24 Hour Fitness as its latest casualty. The national chain filed for bankruptcy yesterday as it permanently closed 100 locations in 14 states as it hopes to keep another 300 afloat.

In its Chapter 11 filing, 24 Hour Fitness said it secured $250 million to help reopen the majority of its gyms by the end of the month. CEO Tony Ueber said the company would reinvest in the remaining clubs and introduce “new innovative products and services.”

Gyms like 24 Hour Fitness are struggling as the pandemic shuttered locations for months. Gold’s Gym filed for bankruptcy in May, and other fitness companies have also expressed financial pain in 2020, including New York Sports Club warning it’s considering bankruptcy. Like small businesses across the country, the coronavirus outbreak has also caused small gym operators to close permanently.

The past few months have expedited a shift in the $94 billion fitness industry as gym-goers have dropped memberships for at-home alternatives like Peloton or upgraded to boutique studios. Peloton’s revenue rose 66% in the first three months of 2020 as the company now has more than 888,100 connected subscribers.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
Jun 10, 2025; Pittsburgh, PA, USA; Pittsburgh Steelers quarterback Aaron Rodgers (8) drops back to pass during minicamp at their South Side facility.
opinion

Steelers Win-Now Mode Is Good News for NFL Media Partners

The conservative “Steeler Way” has finally adapted—and media partners are happy.

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
Dec 5, 2024; Miami, FL, USA; FIFA president Gianni Infantino presents the FIFA Club World Cup trophy during the Club Word Cup draw at Telemundo Studios.

Revamped Club World Cup Is FIFA’s Billion-Dollar Gamble

The revamped soccer event debuts amid controversy.

Featured Today

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
July 3, 2025

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”
Seattle Rough & Tumble
June 28, 2025

Women’s Sports Bars Are on the Rise. Survival Isn’t Guaranteed

Some women’s sports bars are cashing in. Others are clawing for funding.
June 27, 2025

Shitposters Have Taken the Reins of Pro Sports’ Official Voices

Meet the social media pros turning sports teams into internet trolls.
FIFA

Saudis Awarded 2034 World Cup in Uncontested Vote

Saudi Arabia was the only option after Australia decided not to bid.
May 20, 2024

Top Sports Business Jobs This Week (May 2024)

Each week, our staff combs through the thousands of job listings from…
The stands at the Solheim Cup
September 13, 2024

LPGA Apologizes for Solheim Cup Fan Bus Debacle That Left Stands Half-Empty

The USA-Europe women’s team golf event teed off Friday morning.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
October 3, 2022

Real Madrid President Renews Call for Super League

Real Madrid’s president believes that soccer is losing ground.
August 10, 2022

PGA Tour Touts Projected Earnings to Keep Players

The PGA Tour is asking its players to consider their potential futures.
August 10, 2022

Bayern Munich to Make Growth Push in U.S. Market

Bayern Munich is looking to expand its reach in the U.S.
Nintendo-logo
August 3, 2022

Nintendo Profits Underwhelm, Switch Sales Decline

Nintendo failed to meet expectations in the company’s latest earnings report.