Recently in fitness Category

Hip gym chain Crunch Fitness filed for bankruptcy protection and announced the closing of one of its 25 locations. The company cited slow membership activity and high leases as causing a credit, er, crunch.

Crunch hopes to sell its assets/be acquired by its major lender in a new joint venture; a deal is expected to close in July.

Bally Total Fitness filed for bankruptcy today with more than $1 billion in debt and more than 100,000 creditors. The high debt made financial maneuvers difficult in today's economic climate. This is the second bankruptcy for Bally in 14 months. The filing does not address fitness center operations.