60-Year-Old Fitness Chain Shocks with Announcement of 23 Location Closures

Written by Emily J. Thompson, Senior Investment Analyst

Source: Yahoo Finance

Updated: Nov 04 2025

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Source: Yahoo Finance

Gold's Gym Bankruptcy and Acquisition: Gold's Gym filed for Chapter 11 bankruptcy in May 2020 due to financial struggles exacerbated by COVID-19, leading to the closure of 30 gyms and the acquisition by RSG Group for $100 million.
Sale of Southern California Locations: The company sold 23 locations in Southern California to EōS Fitness while retaining its original Venice Beach gym, aiming to open new franchises in the area.
Expansion Plans: Gold's Gym plans to return to Southern California and expand globally, with intentions to open 40 new locations in the next year and a development agreement for 60 gyms in Brazil.
Impact of COVID-19 on Fitness Industry: The pandemic caused significant revenue losses and permanent closures in the fitness industry, with many gyms unable to sustain operations during shutdowns, leading to a shift in workout habits among fitness enthusiasts.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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