Workout Anywhere with 24GO® Download Free. National gym chain 24 Hour Fitness has filed for bankruptcy, after the Covid-19 pandemic forced its facilities shut for months. The Wall Street Journal had reported in May, Westwater Resources stock rockets again on massive volume as company praises President Trump’s executive order, GE's stock takes a dive after disclosing receipt of 'Wells notice' from SEC staff, Big Tech shares drop amid reports House subcommittee wants to split them up, ‘Don’t ever, ever underestimate the potential of the pandemic’: 5 reasons scientists say you should be afraid of COVID-19, ‘The president has threatened to collapse the rental market.’ As Trump abandons stimulus talks, renters and landlords face a financial cliff, Uber engineer slams California’s Proposition 22, says issue is ‘bigger than my employment at Uber’, 3 ways to de-risk your portfolio in volatile times, As Trump tweets false flu claims, here are the facts about the ‘twindemic’ that could be coming. The company expects to to reopen most of its clubs by the end of June. Gyms are attractive replacement tenants because they occupy large spaces that landlords would otherwise have to subdivide and they bring foot traffic to other businesses in malls and shopping centers. The 24 Hour Fitness nixed for East Meadow, at 2000 Hempstead Turnpike, was to open in the fourth quarter of 2021 in 40,000 square feet of space that was part of a former Home Depot, said Ken Breslin, a broker for Garden City-based Sabre Real Estate Group, who represented Salisbury Partners LLC, the owner of the East Meadow property. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Tory N. Parrish covers retail and small business for Newsday. Cookie Settings | Newsday readers support our strong local journalism by subscribing. Privacy Policy | By clicking Sign up, you agree to our privacy policy. Yahoo is part of Verizon Media. Please check back later or get more information here. Terms of service | Of those, 133 are “costly or underperforming” gyms that the company wants to shutter permanently. ... (May 18th is the open date for 5 clubs in the Dallas Fort Worth area) Some amenities will remain closed until further notice. Most of 24 Hour Fitness’ 445 gyms in 14 states and Washington, D.C., have been closed since March 16, and membership payments  for closed facilities were suspended on or about April 15, as a result of the pandemic, according to court filings by the company, which is based in San Ramon, California. She has worked at the Pittsburgh Tribune-Review and Observer-Dispatch in Utica, N.Y. As a public service, this article is available for all. Sitemap | Those are in East Northport, where the gym opened in part of a former Sears store in February, and at Green Acres Commons in Valley Stream. S&P previously downgraded the rating in both March and November. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. Please excuse us! Construction was halted in March for the 37,250-square-foot 24 Hour Fitness that was supposed to open this month in East Setauket, in part of a former Waldbaum’s supermarket space at 4054 Nesconset Hwy. Credit: Danielle Silverman. Copyright © 2020 MarketWatch, Inc. All rights reserved. The latest LI business news in your inbox Monday through Friday. Gym chain 24 Hour Fitness is blaming the COVID-19 pandemic for its filing for Chapter 11 bankruptcy protection and plan to permanently close 133 gyms, including two … “If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11. The number of fitness and recreational sports centers on Long Island increased 7.7% to an estimated 503 from 2015 to 2019, according to the most recent data from the U.S. Bureau of Labor Statistics. In addition to planning to close the two local gyms — in Massapequa and Bay Shore — the chain has nixed plans to open three new locations on Long Island — in East Meadow, East Setauket and Hicksville, according to the company’s filings in the U.S. Bankruptcy Court for the District of Delaware. 24 Hour Fitness Worldwide Inc. sought court protection from its creditors after the COVID-19 pandemic shut down gyms nationwide. About Us | 24 Hour Fitness Worldwide Inc. declared for bankruptcy Monday, citing the "disproportionate impact" of the COVID-19 pandemic. Shares of Westwater Resources Inc. rocketed Monday on heavy volume, again, as the battery-materials company praised the recent executive order signed by President Donald Trump supporting the development of a U.S. supply of graphite. Gyms, which are included in Phase 4 of New York State's reopening plan, are not expected to get the go-ahead to open their doors until some time in July at the earliest. Advertise with Newsday | Long Island is in Phase 2 now. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Intraday Data provided by FACTSET and subject to terms of use. future," said Chief Executive Tony Ueber. Contact Newsday | For the past several years, the United States has been undergoing a fitness boom, as mall and shopping center landlords courted gyms and other non-store tenants to fill vacant spaces left by retailers that struggled with online competition.

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