Gold’s Gym files for bankruptcy, as closures put Dallas-based chain behind on payments

Dallas-based fitness chain Gold’s Gym filed for bankruptcy protection Monday and plans to restructure its debt and close locations, the latest company succumbing to the financial pressures of the COVID-19 downturn.

Gold’s Gym International, which is headquartered in Dallas’ Uptown neighborhood, said it is proceeding with a "pre-negotiated" Chapter 11 restructuring that will allow it to emerge around Aug. 1 while continuing to operate. It closed 32 clubs as part of the bankruptcy, including three in the Dallas area, the company said.

The bankruptcy doesn’t impact the club’s franchise operators, which run about 90% of all Gold’s Gym locations.