COLORADO SPRINGS — A 24 Hour Fitness location in Colorado Springs will not be reopening as the company announced Monday it is filing for bankruptcy due to the pandemic.
The company said the bankruptcy filing will allow them to eliminate debt and close clubs that were "either out-of-date or in close proximity with other 24 Hour Fitness clubs."
"Removing these financial and operational constraints allows us to focus entirely on transforming our business and the club experience for the better. We will have the financial flexibility and resources to upgrade equipment and expand and improve our fitness offerings to best serve our members and continue our transformational journey," the release stated.
The Colorado Springs location on North Academy Boulevard will not be reopening, but 24 Hour Fitness is reopening the Broadmoor location on Southgate Road and another location on Austin Bluffs Parkway. Both of these locations are set to reopen on July 7.
24 Hour Fitness introduced new guidelines in place for members to follow as gyms reopen. For more information, click here.
