New York Sports Club’s parent company is filing for Chapter 11 bankruptcy protection. Town Sports International, which owns New York Sports Club, Boston Sports Club, and Lucille Roberts, says it will restructure the business to reduce its debt load and to better position the company for long-term success.
“The goal is to emerge from Chapter 11 as an even stronger company, better positioned to serve members into the future,” reads a statement on the NYSC website. “Town Sports will continue to operate its facilities as usual throughout this process, and members should not notice any changes to their fitness journeys.”
The company says that they will continue to invest in upgrades and new equipment as needed. They also state that there will be no gym closings due to the Chapter 11 filing. Here in Jersey City, their Harborside location remains open with COVID-19 regulations in effect.
NJ gyms were allowed to partially reopen at the start of September. Unfortunately, many gyms didn’t make it that long. Earlier this summer, 24 Hour Fitness filed for bankruptcy and closed seven of its New Jersey gyms. Meanwhile, boutique studios Black House Strength & Conditioning and Ironbound Performance also closed due to the pandemic.
