Bally Posts Second Quarter Loss

CHICAGO—Bally Total Fitness is now focusing on seeking capital and looking for ways to increase financial flexibility. The fitness chain, which has been unable to sell the company, reported a year-over-year decline in new members and a 2 percent slip in second quarter revenues during a Sept. 12 conference call. The company also reported that it is at risk of defaulting on its credit agreement. Following the second quarter filing, the company’s shares dropped to an all-time low of $2.17 on the New York Stock Exchange.

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