Owner Of New York Sports Club Files For Bankruptcy
NEW YORK (CBSNewYork) - The owner of the New York Sports Club has filed for bankruptcy.
Town Sports International, which owns hundreds of gyms along the East Coast, says revenue loss during the coronavirus pandemic is to blame.
Back in June, it laid off much of its 7,000 person workforce and stopped paying rent to save money.
Town Sports listed liabilities of $500 million-$1 billion in its filing.
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