Health club 24 Hour Fitness is closing one of its Vancouver locations and about 130 others as the company files for Chapter 11 bankruptcy. About 300 locations will remain open, the company reported Monday.
The Vancouver location to close, at 2913 N.E. 72nd Drive, is one of three in Clark County; the two others, at 13019 S.E. Fourth Plain Blvd. and 800 S.E. Tech Center Drive, are not part of the closures, according to the company’s website.
The COVID-19 pandemic pushed the company to shut its doors in March and stop all payment cycles for members until its doors reopened.
“If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11,” CEO Tony Ueber said in a statement. “We expect to have substantial financing with a path to restructuring our balance sheet and operations to ensure a resilient future.”
In 24 Hour Fitness’ Monday filing, the company stated it secured $250 million of funding to reopen some of the remaining gyms. Most gyms should be reopened by the and of June, according to the filing.
Another national gym chain, Gold’s Gym, with one location in Vancouver, filed for bankruptcy in May.