Repeat offender
Bally Total Fitness
Chicago
Chicago
It was a déjà vu for the health club chain in December 2008 when it filed for Chapter 11, a mere 14 months after emerging from its first Chapter 11 filing in July 2007. Just weeks ago, Bally signed an agreement to emerge from bankruptcy by restructuring the $1.5 billion in debt it had accrued and by granting 94% of the company's equity to lenders such as J.P. Morgan.
NEXT: A glutton for debt
LAST UPDATE: Jul 21 2009 | 4:01 PM ET
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