CORPORATE update
Franchise Partners,
Well, it certainly has been an eventful several months! The brand has
endured a global pandemic, which led to the closure of every Gold’s
Gym in the world. This, in turn, led to the cancellation of our global
convention in Las Vegas. Then TRT Holdings decided to put the brand
through a chapter 11 bankruptcy filing, which negatively impacted our
relationship with many of our vendors. While all of these events have –
well, sucked – it did lead to a very interesting and hopeful development:
the end of TRT’s ownership (or should I say captivity) of Gold’s Gym!
As I write this, the bankruptcy court is finalizing the acquisition of the
brand by the RSG Group, our soon to be owner. We all have a long road
ahead as we both get to know each other and determine the future
of the brand. But I am extremely encouraged by RSG’s passion for fitness
and especially about their passion for Gold’s Gym. We finally have an
owner that “gets it.” I know they are excited to get to know all of you and
we will be scheduling trips around the US to make those introductions.
In the meantime, we all have much work to do in the months ahead
as we come back from the significant impact COVID has had on our
businesses. The world needs fitness now more than ever and we have
a unique opportunity to clearly establish ourselves as the Authority in
Fitness. By our continued leadership in the industry with our protocols
and expanding our reach through digital awareness, we are wellpositioned
to rise strong from this pandemic. Keep the faith and never
give up! Great days ahead for Gold’s Gym.
Craig Sherwood
Chief Development Officer
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