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Crunch is filing for Chapter 11 bankruptcy, so soon we'll have an airtight excuse for why we're fat. Or will we? According to the Wall Street Journal, the deal arranged by Crunch would allow it to be acquired by two private-equity firms and only have to close just one of 30 locations—the one on the chopping block is down by the bottom of Broadway (and it's apparently already closed, according to a reader; see below), near Bowling Green. Crunch execs are blaming the company's poor health on weak membership sales and a number of unprofitable club locations that have "overpriced long-term leases." They're also furious with Bally's Total Fitness for allegedly misrepresenting the number of active members before Crunch bought 25 Ballys in 2006.
In a statement, Crunch Chief Executive Tim Miller said that the bankruptcy and restructuring will enable Crunch to get back to "what we have become famous for: being the place where entertainment meets fitness." Lately Crunch has been more famous for owing landlords big moneys; Crain's reports that the company currently has 50,000 creditors and $102.4 million in debt.
And from a reader:
Just wanted to let you know Crunch filed for bankruptcy...They also moved their 29 Broadway location to 90 John St., which was a Golds Gym until yesterday. They didn't notify anyone about this! You had to walk up to their storefront at 29 Broadway and see the sign...
I also spoke to a Yoga instructor at the "new Crunch" who has been working there when it was Gold's Gym. He didn't find out about the change until he came in yesterday morning to teach his regularly scheduled class, only to find out he doesn't have a class anymore!Needless to say, a lot of people (my coworkers and other people I overheard complaining at the new location) are pissed that they picked up and moved without informing anybody. The lady at the front desk told a guy they emailed customers, which is complete bullshit.
They also had to know about this way in advance since I checked the site yesterday morning after finding out. The 29 Broadway location mysteriously disappeared, replaced with the new 90 John Street location, pics and all! Unbelievable.
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How Ben Bernanke---the guy who didn't see this coming---thinks the recession is going to end by the end of this year is beyond me. What world is he living in?
Other than the tech industry, most companies are still saddled with debt. We still need to purge these excesses.
Really? I thought we just needed another 10 minutes on the Stairmaster.
And this isn't even the whole story. I went to the 42nd St. & 11th Ave location on Thursday to work out and half the machines were out on the sidewalk. The staff didn't even know what was going on until a truck pulled up in the morning and started pulling the machines out and loading them in. By 1pm they still hadn't even put so much as a sign on the door to inform the members. Didn't get an email until Monday morning about the closure - pretty lame. They did upgrade all 42nd St. members to a passport membership (all locations) for the inconvenience, but those of us that already have a passport membership were offered nothing. really sucks 'cause there's no crunch between 38th and 83rd on the west side. arrgghh.
Maybe those buff dickheads won't be so smug now.
I quit Crunch when my membership went up to $90. Yowza. Now I pay $40 at a cheaper gym.
You pay 90??
I pay only 79 a month (city wide membership). You gotta negotiate with the rep.
I signed up a few months ago after checking out several gyms, and Crunch is actually a pretty good deal, has clean and well-maintained facilities, and the staff has been great to me.
The pool at the 42nd St location is undergoing renovations, so that might explain the equipment moving over there.
The 59th St location is huge, clean, and never crowded.
I lived directly across the street from a Crunch (the one on West 83rd Street) for over ten years and hate the place. The manager just ripped up guest passes I'd gotten when joining, unilaterally saying they don't honor them anymore. He was a pretty fat and very obnoxious guy. I wish that place was closing down.
Yes, the pool was under renovation, but this was a separate situation. In fact, after watching the machines get loaded onto a small white box truck, later that afternoon, bicycling past the Christopher St. gym on my way to work, I saw the same white box truck _unloading_ machines into that location - a pretty crazy coincidence to be passing by just at that moment...anyway, monday morning's email from crunch was a specific message announcing the closing of the 42nd location...it was the least well kept branch of the ones I'd been to, but still a drag it's gone...
A dingy, dimly lit gym, filled with rusty weights and smelling of sweat and intestinal gas - now that's the perfect gym.
That sounds more like a subterranean gay bath house.
Businesses rise and fall on their merits. Crunch didn't deserve to live.
so what happens to the 90 john st location now for gold st members? have not been to the gym in 2 months...
CRUNCH = BERNIE MADOFF
I WANT MY MONEY BACK!
Crunch is totally screwing over its members! Not only did Crunch abruptly close its 29 Broadway location, it transferred memberships to another gym on John Street, which is no where close to 29 Broadway! This new location is totally inconvenient for members!
What's worse, Crunch is refusing to give us a refund! Even though Crunch knew it was closing, Crunch first took my money for membership and annual locker rental. I want my money back! CRUNCH = BERNIE MADOFF!