24 Hour Fitness USA Inc. filed for Chapter 11 bankruptcy in June 2020.
As the pandemic raged 24 Hour Fitness USA Inc were unable to repay their debts. After consulting with FTI on restructuring, the company was able to emerge from bankruptcy on Dec. 2020 with a comprehensive recovery plan for the future. This restructure was successful in eliminating an estimated $1.2 billion in funded debt.
COVID|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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