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Bally May File for Chapter 11

Published Friday, March 16, 2007

CHICAGO – Bally Total Fitness may file for Chapter 11 bankruptcy protection if it is unable to restructure its debt, the company announced yesterday. Bally also said that it informed the U.S. Securities and Exchange Commission that it is unable to file its annual report for 2006, which is due today. The company is not sure when it will file the report. In a separate filing with the SEC, Bally said that it has identified errors in its membership numbers that could negatively affect revenue for 2006. Bally disclosed that it had about $827 million ...

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