Gold Gym is going to be closed, what will happen to your membership.
The American company, one of the oldest gyms in the world, has been forced to close its business due to Coronavirus and lockdown and the company has decided to close the Gold Gym. For this, the company has filed a petition in the US court, in which the company has said that the court should declare the company insolvent.
Yes, if you are fond of bodybuilding then this news can be bad news for you. Because Gold Gym, which is famous for the gym in the world, is going to be closed now. Marshall Gold has decided to declare itself bankrupt. The company has also filed a petition in the US for this. This is the second major company in the Corona crisis that has filed bank protection in the US. Prior to this, the famous fashion brand Jacobi Bank has filed the Karapsi Protection.
According to a report, the move of the company will close 30 gyms owned by it, the company runs more than 700 gyms in the name of Gold Gym, which mostly has franchisees. Gold Gym has announced that its business has suffered due to lock-down and coronavirus infection. A petition has been filed asking Gold Gym under Chapter 11 in the US to declare them bankrupt. The company has said that the business has come to a complete standstill due to the lockdown and the company has decided to close 30 gyms of its company with immediate effect.
Due to Coronavirus, our Vijaynesh was completely destroyed, for which we needed to take immediate and decisive steps. So that we can stand up again. He disbelieved his customers and employees that the company planned to exit the bank soon and by August. He also said that we are not going anywhere. Bank Currency Chapter 11 allows any company to continue its work. Because they are working on a plan to stay in business, Gold Gym is spread all over the world. This fitness company has about 120 gyms in India. Most of the gyms are in the metros, Gold Gym is considered a class gym for the rich. In this gym, most of the memberships are given on an annual package. If the Gold Gym is declared insolvent, thousands of people in India will also be affected by it.
Gold Gym started its business in India from 2002. Let us tell you that Gold Gym has been doing fitness for the last 50 years. The founder of the company, Joe Gold, the first gym in Venice Beach, California. I had opened more than 700 branches of the Gold Gym in the world. The company hopes that after opening the lockdown, good business will be started by August.