Brad Umansky

San Ramon, Calif. — Fitness center retail chain 24 Hour Fitness has filed for Chapter 11 bankruptcy protection stemming from revenue losses during the COVID-19 pandemic. The San Ramon, Calif.-based company expects to secure $250 million in debtor-in-possession financing, which is subject to court approval. The fitness chain also intends to permanently close 132 of its 300-plus gyms. In California alone, 24 Hour Fitness will shutter 41 locations, and in Texas another 26 will permanently close as the company will focus on reopening its other gyms across the country. “If …

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