David Barton Let His Gym’s Balance Sheet Overdose On Steroids, Files For Bankruptcy
David Barton, the gym king of Chelsea, already has one major dilemma on his hands: a lawsuit alleging he fired a couple of “fucking dyke” trainers over their sexuality. But here’s a whole new headache (that’s been brewing for a while): he’s facing bankruptcy.
Last week the 19-year fitness company filed for Chapter 11 protection and to “make way for a new alliance with Meridian Sports Club, a California-based chain” that also operates under the name Bodies in Motion, relays Crain’s. And what’s a little thing like $65.5 million in debt (on $28.3 million in revenue last year) to stand in the way of that?
David Barton Gym insists it doesn’t have a cash flow problem — your monthly dues help with that — but it’s just carrying too much red ink to stay afloat. Thus, bankruptcy.
But fret not, gym bunnies (and that means you, Anderson Cooper): the DB facilities will remain open “while we complete the financial restructuring over the next four months,” says Barton. Spotter, anyone?
OMG OMG this is like the Vatican closing its doors. OMG OMG. Booty Bump. 10 lb weights. Live DJ. OMG where are my silver hightops OMG OMG off to Elmo to tell the girls OMG OMG OMG
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I love it: the cash flow is fine but it isn’t enough to pay our bills. Sooooo, it’s not fine.
He’s pulling a “Trump,” screwing his business partners and creditors so he can rip off some gullible new suckers in California.
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Say what you will, David Barton has been a huge supporter of the gay community. And he was the hottest man alive back in the 90′s.
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23rd street needs a major gutting. Putting spray painted plywood to cover broken bathroom stalls does not help. The wet area is in need of a major guy, not like putting more drywall from a busted pipe. 23rd street is the cash cow the money machine yet its in need of repair.
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I love Darton Barton Chelsea and I say that as someone who works out very seriously and uses the gym exclusively to work out and not to socialize. Its an extremely well executed space and frankly, the beautiful and famous membership, including the Coop, does not hurt at all.
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Is this story that important? Gyms open and close in NYC, and every city, all the time. Now, the Pompeii exhibition just opened today at the Times Square exhibition center. It’s supposed to be astounding, and- as we know- queer-relevant historically. For those in and around NYC, THAT should be reported on Queerty.
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I always thought he (obviously) looked like a smuck.