Owner of David Barton Gyms Files Chapter 7 Bankruptcy and Closes Five Locations

by San Antonio Attorney

The owner of David Barton Gym has filed for bankruptcy and closed the fitness center, blaming stiff competition from rivals.

Club Ventures, the owner of David Barton Gym fitness centers, announced that it has closed its locations in Chicago, Miami, Washington, Boston and New York.  The facilities have many celebrity users owing to its gym-as-club design.  The gym, according to its website, is a prominent upscale fitness center in the country.

The company said that it has become very hard to keep up with competitions.

Club Ventures, headquartered in Chicago, filed for Chapter 7 bankruptcy in New York in order to liquidate the company

Out of the all the locations closed, only three of them were included in the bankruptcy filing.

David Barton gyms in Las Vegas and L.A. as well as the Island Club & Spa in Hawaii are going to continue operating.  Those locations are operated by a different unit, Meridian Sports Club LLC.

Gym members have been notified via letters about the closure and given a chance to file any claims against the facilities for refunds.

In addition, the letter also mentioned concerns about personal things left at the facilities so that they can be retrieved by the owners.

In Chicago, the bankruptcy filing lists up to $50,000 in assets and up to $50,000 in liabilities.  Some of the creditors stated in the filing are Praesidian Capital Corp.  and EQC 600 West Chicago Property LLC.

Club Ventures previously filed for Chapter 11 bankruptcy in 2011, based on court records.

Filing for Chapter 7 Bankruptcy is usually the fastest, most practical way to eliminate your debt.  Contact a San Antonio Chapter 7 Attorney for consultation if you’re weighed down with debt and want a fresh start.

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