Crunch Fitness bankrupt, hoping for sale

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Hip gym chain Crunch Fitness filed for bankruptcy protection and announced the closing of one of its 25 locations. The company cited slow membership activity and high leases as causing a credit, er, crunch.

Crunch hopes to sell its assets/be acquired by its major lender in a new joint venture; a deal is expected to close in July.

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Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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This page contains a single entry by David Wertheimer published on May 6, 2009 2:19 PM.

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