Crunch Fitness

Crunch Fitness is an American chain of fitness clubs founded in 1989.

History

Crunch Fitness was founded in 1989 by former stockbroker Doug Levine.[1][2]By 1997 the company had five locations in New York City and one in both Los Angeles and Tokyo.[1] In 2001, Bally Total Fitness bought Crunch Fitness for $90 million in cash and stock.[3] Bally found the business unprofitable and sold the company in 2005 to the private equity firm, Angelo, Gordon & Co. for $45 million.[4] By 2009, Crunch Fitness had 20 facilities in six American cities but its legal business entity, AGT Crunch Acquisition LLC, filed for bankruptcy protection in May of that year citing debt due to declining membership.[5] During the reorganization process Crunch Fitness was acquired by the New Evolution Fitness Company.[4][6]

Description

Crunch Fitness markets its facilities to a young adult demographic and its trend-based approach to its fitness program includes new classes throughout the year.[7] Standard classes include stretch, sculpt and cardio while specialty classes have included anti-gravity or Kama Sutra yoga, fitness sessions taught by drag queens and a fire fighter workout.[1] Other past and current offerings include pole dancing, bicycle-based yoga, coed wrestling, dodgeball and karaoke cycling.[1] Its facilities may have a nightclub like atmosphere and have included the sale of personal care products, recordings, clothing and accessories.[2]

References

  1. 1 2 3 4 Wendy A. Lee (2009-07-29). "The Trapeze, the Catwalk, the Gym". New York Times.
  2. 1 2 Edward Lewine (1997-11-30). "The Fitness Gurus". New York Times.
  3. ↑ "Bally Plans to Purchase Crunch for $90 million". New York Times. 2001-10-16.
  4. 1 2 Stuart Goldman (2009-05-07). "Crunch Files For Bankruptcy, Seeks Sale". Club Industry.
  5. ↑ Tiffany Kary (2009-05-11). "Crunch Fitness Files for Bankruptcy in New York". Bloomberg.
  6. ↑ Stuart Goldman (2009-05-01). "Crunch Files For Bankruptcy, Seeks Sale to Mastrov's Company". Club Industry.
  7. ↑ Constance C. R. White (1996-06-16). "Crunch Inc.: Marketing a Gym, as Well as a Way of Life". New York Times.

External links

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