PARAMUS, N.J. — After 24-Hour Fitness -- a privately-owned fitness center of more than three decades headquartered in San Ramon, California with clubs in 14 states across the country — announced its filing for relief under Chapter 11 of the U.S. Bankruptcy Code mid this month following the “disproportionate impact of the Covid-19 pandemic," four of its 10 New Jersey locations — Paramus included — are preparing to reopen on Wednesday, July 1.
According to a press release from the company dated June 15, 24-Hour Fitness anticipates it will secure roughly $250 million in debtor-in-possession financing and a financial restructuring with the reopening of dozens of clubs across the country. Among them in New Jersey is the Paramus Super-Sport Gym located at 260 East State Route 4.
Along with Paramus, the Englewood Cliffs, Ramsey and Springfield gyms are also expected to reopen, while the other six locations in New Jersey — Jersey City, Hasbrouck Heights, Piscataway, Saddle Brook, Wayne, Whippany, and Woodbridge Township — will remain closed. According to Chief Executive Officer Tony Ueber, “substantial financing” is expected with a “path to restructuring their balance sheet and operations" to ensure what he’s calling a "resilient future.” 24-Hour Fitness’s salaried and hourly team members will continue to be paid their wages and benefits, per court authorization.
“The Covid-19 environment has proved that attention to health and fitness are more important now than ever before,” said Ueber. “As a result of this restructuring, we will gain financial strength and flexibility to accelerate our business transformation plan, which includes reinvestment in our existing clubs, opening new clubs and introducing several new innovative produces and services that will enhance the fitness experience for our club members and guests many years to come.”
From Wednesday on, 24-Hour Fitness will have a new workout reservation system and a touch-free club check-in. “Stringent” cleaning and social distancing protocols will also be observed to support the health and safety of gym goers. The fitness center chain is also offering a modified selection of fitness classes as a precautionary measure upon the anticipated reopening, which will include limited class sizes. Virtual group training sessions will also be offered weekly, in addition to one-on-one sessions, in-club. Personal training and studio classes will meet in certain club areas where members can safely maintain social distancing.
Amenities at the Paramus gym will include free WiFi, strength machines, group cycling, sauna, and racquetball and basketball courts, among others. However, certain amenities that cannot be used under social distancing guidelines will be temporarily closed, and decommissioning select cardio and strength equipment throughout the club to ensure proper spacing. The following amenities will be closed until further notice: Kids' Club; all drinking fountains; lap pool, steam room, whirlpool and sauna; and locker room showers.
For more information on 24-Hour Fitness’s Paramus location, go to 24hourfitness.com.
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June 30, 2020 at 02:39AM
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24-Hour Fitness Plans Financial Restructuring, Reopening Paramus Location On July 1 - TAPinto.net
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