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New York Sports Club owner files for bankruptcy

September 14, 2020. Summarized by summa-bot.

NEW YORK, NEW YORK - AUGUST 17: A man wearing a mask walks past a New York Sports Club in Park Slope as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 17, 2020 in New York City. Governor Andrew Cuomo announced that gyms can begin reopening as early as August 24, 2020 with limited capacity. The fourth phase allows outdoor arts and entertainment, sporting events without fans and media production. (Photo by Alexi Rosenfeld/Getty Images)

Town Sports International, the owner of hundreds of gyms mostly on the US east coast, has filed for bankruptcy.

New York (CNN Business)Town Sports International, the owner of hundreds of gyms mostly on the US east coast, has filed for bankruptcy.

The 47-year-old company owns several gym chains, including New York Sports Club, Boston Sports Club and Lucille Roberts.

Town Sports (CLUB) listed liabilities of $500 million to $1 billion in its filing.

Last week, it said in its most recent earnings report that a majority of its locations remained closed.

"We anticipate that the Covid-19 pandemic will continue to negatively impact our operating results in future periods," Town Sports said.

For now, Town Sports said it won't permanently close any of its nearly 200 gyms, which has about 605,000 members.

Several gym chains have filed for bankruptcy in recent months, including Gold's Gym and 24 Hour Fitness.

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