Gold's Gym Indias' Position in the Light of Recent Developments Regarding the Financial Restructuring of Gold's Gym US

MUMBAI, May 6, 2020 /PRNewswire/ -- Gold's Gym has been the world's trusted fitness authority for more than 50 years and the brand continues to grow with over 700 locations spanning six continents.

In the recent light of the global COVID-19 pandemic, which has affected companies globally, Gold's Gym USA had to take a painful yet necessary decision to permanently close about 30 company-owned gyms in order to maintain the strength and growth potential of the brand. The Company has filed for the restructuring of its business under Chapter 11 of the USBC. However, as clarified by their President and COO Adam Zeitsiff - Gold's Gym is definitely not going out of business and it surely does not have an impact on their ability to continue supporting their system of strong franchise partners around the world.

'I would like to personally reassure you that this absolutely does not have any impact on Gold's Gym India as a Master Franchise and we are committed to giving you the best fitness experience as we have for the last 17 years and counting. It is the collective effort of all our franchise partners, vendor partners, staff and, patrons across the 150+ centers, 95 cities that truly makes us one big family and together we remain committed to our vision of 'Making India Fit'! As Gold's Gym India, we are sure that even after a global pandemic like COVID-19 we will emerge stronger than before. We eagerly await an advisory from our local governments to end the lockdown and reopen our clubs to help serve our customers and well-wishers. Stay Safe, Stay Healthy. Jai Hind!,' said Karan Valecha, Director and Co-Founder, Gold's Gym India.

About Gold's Gym Gold's Gym has been the authority in fitness since 1965 dating back to the original Gold's Gym in Venice, California. It was the place for serious fitness. Gold's Gym has become the largest co-ed gym chain in the world with over 700+ clubs in 28 countries. Gold's Gym India celebrated its 17th Anniversary in 2019. In these glorious 17 years Gold's Gym has cut out for itself 150 clubs in India across 95+ cities and a few more ready to start in the near future.

Gold's Gym has expanded its fitness profile to offer all of the latest equipment and services, including group exercise, personal training, cardiovascular equipment, spinning and yoga, while maintaining its core weight lifting tradition. Gold's Gym has become the preferred gym of celebrities, athletes, bodybuilders, the military and fitness enthusiasts all over the world. Most importantly, Gold's Gym continues to change lives by helping people achieve their individual potential. PWR PWR