Bally's Total Fitness
Bally's Now They've Filed Chapter 11

As a 21-year member of Bally's, I am sorry to say that the writing is on the wall: as of several weeks ago, they filed Chapter 11. I googled "Bally's Chapter 11" and discovered that, with 375 clubs and about $750 million in debt, they have roughly $2 million in debt per club. And their assets are only about half that much, so they're not exactly solvent... Especially when they probably sell to chop shops whatever contracts that new members sign.

Even sadder, the decline in folks working out at my club is conspicuous. Without a continual influx of new members, the patient is going to go (oh, this is gonna hurt!) Bally up.

I owe the rookie customers from over the years a debt of gratitude for subsidizing my workouts. We veteran members realize that Bally's has sustained itself by luring couch potatoes with low-price promotions to sign two-year contracts. It is only AFTER that initial two years that members have gotten the best value, because renewing costs much less than starting as a newbie.

Unfortunately for me, I just paid for a year in advance in June. So now I get to wait with baited breath to see on which day I will find a locked door at one or more of my favorite locations. Or, more likely, some smiling salespeople will be lurking in the doorways to explain that their company has bought out Bally's assets but undertook no obligation to honor their old memberships.

Listen, buddies... This racket of closing the doors after collecting dues far in advance (or obligations for same with nasty contracts) is not unique to Bally's or even health clubs and suntan places. Looking on the bright side, at least the Ponzi scheme at Bally's has lasted for more than several decades. Apparently competition from LA Fitness and 24 Hour Fitness has taken too much of a toll and bled off too many suckers from the mix. But you can be sure those competitors have similar complaints. (In other words, try to go month-to-month for at least awhile before signing in blood.)

The YMCA, however, has you pay an initiation fee of about two months worth of dues and then pay month-to-month. They're not into the commissioned salesmen gig so far as I can tell. So no long-term contracts and no selling your paperwork to finance companies who insist to collect even if you become a quadriplegic. But then the Ys rates are disproportionately less expensive for families with kiddos than for single adults or empty nesters.

I will miss Bally's even though I have always considered them the K-Mart of health clubs. (And, as Forrest Gump says, "K-Mart sucks.") Sorry for you Johnny-come-latelies.

Company: Bally's Total Fitness
Country: USA
State: Texas
City: Dallas
Site: www.ballyfitness.com

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