Bally Total Fitness Has file Chapter 11 Bankruptcy?
NEW YORK (Reuters) - Bally Total Fitness Holding Corp (BFTH.PK: Quote, Profile, Research), one of the largest U.S. form club operator, have file for ruin protection, after struggling in recent years next to political leanings decline and too much debt.
The Chicago-based company and more than 40 affiliates file for Chapter 11 protection from creditors on Tuesday beside the U.S. Bankruptcy Court surrounded by Manhattan.
Bally down $396.8 million of assets and $761.3 million of debts as of December 31, court papers show.
The company said the reorganization process will not affect memberships or operation at its more than 375 robustness clubs. It also intends to maintain paying human resources and vendor.
Bally will hope approval of a "prepackaged" reorganization plan supported by holders of much of two bond issues.
It said the plan would cut back on debt by $150 million and provide $90 million of funds through a rights offering back by affiliates of Anschutz Investment Co., Goldman Sachs Group Inc
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The Chicago-based company and more than 40 affiliates file for Chapter 11 protection from creditors on Tuesday beside the U.S. Bankruptcy Court surrounded by Manhattan.
Bally down $396.8 million of assets and $761.3 million of debts as of December 31, court papers show.
The company said the reorganization process will not affect memberships or operation at its more than 375 robustness clubs. It also intends to maintain paying human resources and vendor.
Bally will hope approval of a "prepackaged" reorganization plan supported by holders of much of two bond issues.
It said the plan would cut back on debt by $150 million and provide $90 million of funds through a rights offering back by affiliates of Anschutz Investment Co., Goldman Sachs Group Inc
Answers:
If you enjoy a devotion nearby, you may enjoy lost your money.
ummm.gratitude for the information, whats the ask?