Gold Gym | Pixr8 News

BERLIN, July 14, 2020-- RSG Group GmbH was selected as the winning bidder in a court-approved auction process held on July 13, 2020, and is set to acquire the most well-known and iconic gym chain in the world, Gold's Gym. With this acquisition, the RSG Group, which has mainly been active in Europe up to now, will become a global leader in fitness with over 900 locations and will be represented on six continents. Established in 1965 in Venice, California, Gold's Gym hit hard by the economic shutdown due to the COVID-19 pandemic, filed for bankruptcy under Chapter 11 on May 4, 2020, in an effort to facilitate the financial restructuring of the company. In mid-May, as part of the initial bankruptcy filing, Gold's Gym announced its plan to emerge from bankruptcy quickly through a pr...

GGI Holdings, LLC and its affiliates Gold’s Gym filed for relief under Chapter 11 in an effort to facilitate the financial restructuring of the company. CEO Adam Zeitsiff said the filing will ensure the company’s viability for decades. The chain listed assets and liabilities of between $50 million and $100 million, according to its Chapter 11 petition filed in the U.S. Bankruptcy Court in Dallas. The company has furloughed most of its 4,600 employees in response to the crisis, per court papers. “Our focus is and always will be on our members around the world, and we look forward to welcoming them back as soon as it is safe for our members, team members and communities,” Zeitsiff said. “Gold’s Gym has been the world’s trusted fitness authority for more than 50 years, and we’re a...

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RSG Group Acquire Gold Gym for $100 Million

Gold’s Gym file for Chapter 11 Bankruptcy Protection