Orporate Legal

Gold's Gym filed for Chapter 11 bankruptcy on Monday, the latest business to pursue restructuring amid coronavirus-related business disruptions. "We want to be 100 percent clear that Gold's Gym is not going out of business," president and CEO Adam Zeitsiff said in a press release. "The brand is strong, and we'll continue to innovate and grow our digital business, our licensing program and our global footprint as we focus on serving our millions of members across the world." The company referenced difficulties brought on by the coronavirus pandemic and said it hoped to reemerge from bankruptcy proceedings by August 1.  It said the bankruptcy filing would affect only company-owned locations, which represent about 10% of the company's roughly 700 locations around the world. The gym chain was forced to temporarily close locations across the US in March in response to states' restrictions on businesses. In April, it announced it would clos...