On August 1, 2007, BloggingStocks' Peter Cohan reported on Bally Total Fitness' decision to file for Chapter 11 bankruptcy protection. Now, almost two years -- and a second bankruptcy filing -- later, the company is set to emerge with senior lenders as the new majority shareholders.The Wall Street Journal reports (subscription required) that "Under the plan, which requires court approval, secured lenders owed $242 million will get 94% of the reorganized company's equity. The rest will be used in part to pay noteholders and unsecured creditors, which will see a recovery of no more than 1.5%."
Two bankruptcies in two years, and now the company is emerging again -- no doubt with rosy forecasts of a return to glory to follow. If there is ever a publicly traded component to this turnaround effort, I'd be skeptical.











Reader Comments (Page 1 of 1)
6-22-2009 @ 4:27AM
Holger Groth said...
I’ m tired of all the falsely advertised weight loss programs. Sexy half naked girls showing a picture of their overweight body to proof their slimmed down body is the result of the weight loss program they are advertising. Celebrities and would be celebrities making a bunch of money from greedy and dishonest manufacturers who are trying to convince the public that their product is healthy. People who have been selected to do the commercial accepting it only for the money and not for the product. Any commercialized product I black out, because they are false. If it is health related, I only will adhere to my doctor’s advice. Losing weight or maintain your perfect body weight is rather simple and inexpensive in comparison to falsely advertised products including expensive bogus supplements. If people would use their developed brain they would eat sensible and not consuming any processed food. Processed food makes us fat and sick that contains dangerous chemicals like the now banned trans-fat among many others which is replaced with another perhaps more dangerous fat called Interesterified fat. At this time this new fat is not mentioned on labels, because the FDA is allowing it, to keep the manufacturers profit rolling. When labels read product contains vegetable oil, hydrogenated and or partially hydrogenated palm-oil, no trans-fat, it actually means trans-fat or Interesterified fat because of the processed method.
A healthy diet should only exist of fresh omega 3 fatty fish like Sockeye-Salmon, Sardines, wild roaming chicken and turkey and not the one being inhumanely kept in cages with no room to spare; not out of the can but fresh vegetables like broccoli, variety of cabbage, string beans, snap-peas, green asparagus, Lentils etc.; variety of fresh fruits like Acai-Berries, Blueberries, Kiwi-Fruit, Strawberries, Watermelons, Cantaloupes, Papaya, Mengo, red grapes, cherries etc.
Do not eat sweets with the exception of dark chocolate and some nuts like walnuts, peanuts, hazelnuts and almonds, enjoy only in moderation.
Lowfat dairy products preferably from soy beans and filtered water and green tea instead of softdrinks. Exercise daily in or around your home but not at a germ spreaded and infected gym. Following these simple guidelines you will feel slim and healthy.
6-24-2009 @ 5:12PM
justsmilestoo said...
Holger Groth... Not sure where you received you info but I could not have said it better. I followed a low-fat plan for 4 months and exercised moderately at home daily and lost 35 lbs in 5 months. I took no diet supplements etc...
I have kept the weight off because I have continued to eat "right" and walk 1-3 miles a day.