24 Hour Fitness files for bankruptcy and closes 100 gyms

National gym chain 24 Hour Fitness has filed for bankruptcy, after the Covid-19 pandemic forced its facilities shut for months.

24 Hour Fitness said Monday in its Chapter 11 filing that it has secured $250 million in funding to help reopen some of its clubs and expects a majority of locations to be open by the end of June. However, it's emerging as a smaller chain: It permanently closed 100 US locations in 14 states with roughly 300 clubs remaining.

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