(Reuters) - Chicago-based Bally said it plans to implement its
reorganization through a voluntary, prepackaged bankruptcy
filing in July. The company said it expects to complete its
reorganization within 60 days of filing its bankruptcy
petition.
Bally has struggled in recent years to attract new members,
and in March said it expected continued membership declines
through at least 2008. In 2005, Bally put itself up for sale,
but was unable to find a buyer. Its acting chief executive,
Barry Elson, stepped down earlier this month.
Read more at Reuters.com Bonds News
reorganization through a voluntary, prepackaged bankruptcy
filing in July. The company said it expects to complete its
reorganization within 60 days of filing its bankruptcy
petition.
Bally has struggled in recent years to attract new members,
and in March said it expected continued membership declines
through at least 2008. In 2005, Bally put itself up for sale,
but was unable to find a buyer. Its acting chief executive,
Barry Elson, stepped down earlier this month.
Read more at Reuters.com Bonds News
No comments:
Post a Comment