Bally Fitness locations to close

June 23, 2009
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                              Total FitnessTwo local Bally Total Fitness locations will close today as part of the parent company's reorganization under Chapter 11 bankruptcy. Gyms along U.S. 31 in Greenwood and behind The Fashion Mall at Keystone in Indianapolis are among 26 locations the California-based company is closing nationwide. The pioneer of fitness clubs, which has been in business more than 40 years, still has about 300 clubs. A third Indianapolis-area location at 5435 W. Pike Plaza Road remains open. Bally has faced an explosion of competition in recent years as chains such as LA Fitness and Lifestyle Family Fitness embark on nationwide expansions. Both chains have opened several new gyms in the Indianapolis area.
  • Just a little reminder that I need to get my butt to a gym at some point...
  • I really wish some of these gyms would find their way downtown. There really is no reason that a Cardinal Fitness couldn't survive here, and it would give the YMCA (bad facility) and NIFS (too expensive) a little competition.
  • There is a new (smaller) fitness place at the street level of the Villagio (Virgina & East)
  • Plus the Conrad offers gym memberships........
  • So does the Columbia Club...though you won't find worse facilities ANYWHERE...
  • I have a feeling that neither the Columbia Club or the Conrad is $19.99 a month...just sayin.

    I guess this just goes to unjustified idea that there is not enough residential (or no one creative enough) to build establishments that residents of downtown need. I live downtown, and I love it. However, I shouldn't have to drive to the ends of the earth for an affordable grocery store, department store, gym, or any other amenity.

    And no, the solution isn't to move because I live a block from work and walk everyday. The need is here, if someone has the gumption to actually do it...

    Back to topic, Bally's is just the roadkill of capitalism. They didn't change with the challenges brought by their they're toast!
  • Would LOVE a Cardinal Fitness downtown!
    NIFS is so hard to get to (have to wind through IUPUI).
  • I also think that a Cardinal Fitness would be successful downtown. Less than 1/2 the price of NIFS, I bet it would be a hit for IUPUI students.

    Another hit for IUPUI students (for a completely different reason) will be the new Crown Liquors opening in August at the SW corner of Ohio & Delaware.

    I figure this place to be just like Cardinal Fitness.. Located right by Anthem/Lilly.
  • Maybe they'll replace these gyms with something Hoosiers will support like a tobacco outlet or super Dunkin Donuts!!!
  • This is so sad although I no longer live in Greenwood I really liked that gym.
  • I wish someone would give the YMCA some competition. They are very
    expensive and the facility is on the rough side. . .not to mention the fight
    for parking when there is an event at the Rathskellar.
  • I visited an LA Fitness on the Southside, and they said they have plans to install a branch downtown. (For what it's worth, this could just be talk.) The facilities and range of opportunities at these gyms is comparable or superior to a Bally's. They seem very well managed, if a bit too Los Angeles. It would be great to see that lower level of the old building at Market and Illinois (the Illinois Building, right?!) used for a gym--a banner opportunity for exhibitionists too!

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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. Finance Images&ARG2=/Brainard, Jim