Gold’s Gym files for Chapter 11 bankruptcy

Gold”™s Gym has become the latest national chain to file for Chapter 11 bankruptcy protection while citing financial disruptions created by the COVID-19 pandemic.

Founded in 1965 by bodybuilding champion Joe Gold, the Dallas-headquartered company operates 700 gyms across the country, but state edicts on nonessential businesses forced the gyms to be closed as the pandemic took root in this country.

Last month, the company announced the closing of 30 gyms in seven states. However, president and CEO Adam Zeitsiff insisted no further locations would be shut.

“We want to be 100 percent clear that Gold’s Gym is not going out of business,” Zeitsiff said in a press release. “The brand is strong, and we’ll continue to innovate and grow our digital business, our licensing program and our global footprint as we focus on serving our millions of members across the world.”

Regionally, Gold”™s Gym has locations in Carmel, Fishkill, Harriman, Middletown, Newburgh and Poughkeepsie.