Many months of financial losses have become like a difficult dead-lift for Springfield’s Gold’s Gym.
A Springfield federal bankruptcy judge has approved a motion filed by attorneys for creditor Illini Bank to convert the gym’s Chapter 11 rehabilitation bankruptcy into a Chapter 7 liquidation bankruptcy.
As a result, the gym closed earlier Tuesday. Court documents indicate that the gym has lost 161-thousand dollars so far this year as of August 31st, and has had multiple months of losses since the initial bankruptcy filing a year and a half ago.
A sale of the gym had not yet happened by a late-August deadline, also according to court records.



