NYC gyms were permitted to reopen yesterday with reduced capacity and COVID-19 restrictions in place.
There were lines reported at some gyms, such as at the Blink on Avenue A.
One notable exception to the reopenings: New York Sports Clubs. On Tuesday, the owner of the chain said it may need to file for bankruptcy "in the near future."
Town Sports International is in talks with its lenders to refinance a loan coming due this fall as its cash flow and liquidity continue to tighten, the company said in a regulatory filing Tuesday. The gym owner and operator said it doesn’t have enough cash on hand to repay the debt when it comes due in November.
The company missed a payment on its revolver last month, violating terms of the debt. Lenders could send the company a notice of default and demand immediate repayment of all obligations, but none has done so yet, Town Sports said in the filing.
So the NYSC outposts in the area, such as the one at 28-30 Avenue A between Second Street and Third Street that looks like a bad prototype for an Iron Man helmet, will remain shuttered for the foreseeable future.
Updated 9:30 a.m.
HOLD ON. EVG reader MP reports that the Astor Place location — "Elite by NYSC" — is open...