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MANILA, Philippines – Gold’s Gym (GGI Holdings, LLC) filed for bankruptcy due to the economic effects of the coronavirus pandemic.
However, the global gym brand explained to the public that it will not close, but will use the financial relief it will receive to restructure the company.
“First of all, I want to assure everyone watching this video around the world that we are not going to close the business. Gold’s Gym has been the world’s most trusted fitness authority for 55 years and we are not going anywhere. side, “he said. Gold’s Gym President and CEO Adam Zeitsiff.
Gold’s Gym permanently closed 30 of its branches in the US. USA, mainly the Markets of St. Louis, Alabama and Colorado Springs, and emphasized that its local and local franchises will not be affected.
The franchise in the Philippines will not be affected by the restructuring, but the gyms will remain closed even during the general quarantine of the community.
With the temporary closure of more than 700 gyms worldwide due to social distancing protocols caused by the coronavirus pandemic, the company will continue to help its franchisees to reopen safely.
Gold’s Gym follows local and state guidelines from public health officials before resuming regular operations.
Meanwhile, the fitness authority offers free home fitness options, including a mobile app, for both members and non-members to stay in shape while gyms are closed.
The company promises to care for and extend aid to its employees in the United States due to the deadly virus.
“We will continue to provide salaries, health care coverage, vacations, and other benefits to team members in our company’s gyms and global support center. Our goal is to bring employees back without permission as the gyms in the company reopen, “Gold’s Gym stated.
Previously, Gold’s Gym Philippines President and CEO Mylene Dayrit believes gymnastics studios and gyms should reopen with social distancing protocols during the GCQ period.
“As we prepare for a new normal, regular exercise should be included in a person’s regimen to further boost their immunity along with proper nutrition, enough rest and hydration, “Dayrit said in a statement.
The 26 Gold’s Gym branches in the Philippines have been temporarily closed since the beginning of the closure on March 15. – Rappler.com
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