Bally Total Fitness Franchise News

National Fitness Chain Supports Augie's Quest with $300,000 Donation Goal

CHICAGO, July 30 /PRNewswire/ -- Last year, Bally Total Fitness members raised over $230,000 for Augie's Quest, the fast-track research arm of the Muscular Dystrophy Association (MDA). As one of the leading fundraising donors in 2008, Bally is dedicated to beating the previous goal by reaching $300,000 in donations this year.

Anyone can contribute at a Bally club now through August 31 and receive a free guest pass to Bally for you or a friend. Whether you're currently a Bally member or interested in free access to a health club, simply donate in a Bally location or online to help the fight against ALS and receive personal health benefits.

The site for online donations is: www...

CHICAGO, June 24 /PRNewswire/ -- Bally Total Fitness Holding Corporation today announced that it has appointed Michael Sheehan to serve as its Chief Executive Officer, effective July 1. Mr. Sheehan will also serve as a member of Bally's Board of Directors.

Mr. Sheehan, age 46, served as the Chief Operating Officer of 24 Hour Fitness since 2005. Before serving as Chief Operating Officer, Mr. Sheehan served as Executive Vice President, Operations of 24 Hour Fitness. In addition to his comprehensive experience in the fitness industry, Mr. Sheehan has played key operational, finance and sales roles with multi-unit consumer retailers, including management roles with Pepsico, Nestle and Yum Brands, a food service holding company with well-known brands including Taco Bell, Kentucky Fried Chicken and Pizza Hut...

CHICAGO, March 31 /PRNewswire/ -- Bally Total Fitness Holding Corporation ("Bally") today announced that it has commenced the process to make an initial cash distribution to former stockholders, in accordance with the terms of Bally's confirmed chapter 11 plan (the "Plan"). The initial cash distribution is $.31 per share of Old Common Stock (as defined in the Plan).

Approximately $3.5 million has been reserved by Bally's disbursing agent, pending disallowance of certain outstanding claims that were filed in Bally's chapter 11 case. These reserved funds may fund a second distribution to holders of Old Common Stock, but such a distribution is subject to satisfactory resolution of the outstanding claims.

About Bally Total FitnessBally Total Fitness is among the largest commercial operators of fitness centers in the U...

CHICAGO, Feb. 28 /PRNewswire/ -- Bally Total Fitness Holding Corporation today announced that it has reached a settlement with the Securities and Exchange Commission ("SEC") concerning the SEC's previously disclosed investigation relating to the restatement of the Company's financial statements for 2002 and 2003 and selected financial data for 2000 and 2001. The Company settled the proceedings without admitting or denying the SEC's findings. The settlement does not require the Company to pay a monetary penalty. As part of the settlement, the Company has consented to a final judgment requiring future compliance with Federal securities laws and regulations. The Company fully cooperated with the SEC during the course of the SEC's investigation...

CHICAGO, Oct. 1 /PRNewswire-FirstCall/ -- Bally Total Fitness announced that it has successfully emerged from chapter 11 today as a private company just over two months after filing for bankruptcy protection on July 31, 2007. The restructuring arrangements funded by Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund L.P. ("Harbinger") became effective today.

Harbinger invested approximately $233.6 million in exchange for 100% of the common equity of reorganized Bally. In addition:
# Senior Noteholders will receive new Senior Second Lien Notes bearing interest at 13% as well as a consent fee equal to 2% of the face value of their Notes.
# Subordinated Noteholders will receive a cash payment of $123...

Company Expects to Emerge from Chapter 11 by End of September

CHICAGO, Sept. 17 /PRNewswire-FirstCall/ -- Bally Total Fitness (Pink Sheets: BFTH), today announced that the U.S. Bankruptcy Court for the Southern District of New York has entered an order confirming the Company's Amended Prepackaged Chapter 11 Plan of Reorganization (the "Plan"). With this action, Bally expects to emerge from Chapter 11 by the end of September 2007 and move forward with the restructuring arrangements funded by Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund L.P. At today's hearing, the Court ruled that Bally had met all of the statutory requirements to confirm its Plan. The Plan will become effective, and the Company will emerge from Chapter 11 as a private company, once all conditions to funding of the Harbinger proposal are satisfied...

Restructuring Support Agreement Signed by Noteholders, Harbinger Capital and Company

CHICAGO, Aug. 16 /PRNewswire-FirstCall/ -- Bally Total Fitness (OTC: BFTH) today announced that holders of more than 55% of its 10-1/2% Senior Notes due 2011 (the "Senior Notes") have, subject to the modifications to the treatment of the Senior Notes described below, agreed to support the proposed modifications to Bally's Joint Prepackaged Chapter 11 Plan of Reorganization (the "Existing Plan" and as so modified, the "Amended Plan") necessary to implement a superior restructuring proposal from Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund L.P. (collectively "Harbinger"), as described below...