Bally Emerges from Bankruptcy

Seventeen months after filing Chapter 11 on Oct. 7, 2007, Bally Total Fitness has emerged from bankruptcy.

CEO Michael Sheedan is optimistic. He claims, "Bally is moving in the right direction as we contimue to systematically improve every aspect of this company.  With the dramatic restructuring of our balance sheet and improved financial performance, Bally is now positioned to put 100% of our energy towards improving the customer  experience and growing our business." Sheeden also states, "The unparalleled financial flexibility we have after emerging from bankruptcy will allow us to make the investments necessary to build Bally into the preeminent fitness chain in the country. We have the right team in place and a strategy that will allow us to offer our customers the best experience in the industry."

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