Anyone workout at Ballys?

[Presto]

Ballys was the first gym I ever went to. They sent me like 3 two-week free trial vouchers over the course of a month. Somehow I managed to workout there without ever getting leaned on by a sales mutant. It was a nice gym, but the location was terrible.

Lean times for Ballys. This stock has been a dog for years. I am surprised how long they lasted without a bailout.

Bally Total Fitness may file for Chapter 11

Thu Mar 15, 2007 5:54pm ET

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NEW YORK (Reuters) - Gym operator Bally Total Fitness Holding Corp. (BFT.N: Quote, Profile , Research) on Thursday said it has may have to file for Chapter 11 bankruptcy protection from creditors if it is unable to restructure it's debt.
The company said it has $45 million in cash and $827 million in outstanding debt.
Chicago-based Bally also said it told the U.S. Securities and Exchange Commission that it is unable to file its annual report for 2006.

 

[LEYKIS101]

Damn, I work out at Bally's. They closed one location I was working out at, but every other Bally's seems to be packed most the time. Not sure how they get that much debt though.

:think2:

 

[FatTony]

I do. There's nothing else decent around here.

 

[Ironman_8]

I used to when I was in Virginia. It doesn't surprised me its going under since they was closing locations or they were in bad markets such as shopping malls or the like. Also sometimes the locations wouldnt upgrade the machines so I'm sure it was hard to sell new memberships or get re-ups.

Personally gyms have become so niche oriented now, its hard to keep up. You have the hardcore gym, the meat market gym or the elderly people gym.