Quote:
Originally Posted by mikemhg
This, 100%.
I have no doubt SNSC triggered the bankruptcy clause to abrogate any financial responsibility in terms of severance, and obligations.
There is no doubt at all their same locations will be "re-branded" and picked up by a new gym outfit (even by same investors and ownership).
This is capitalism for you.
Good luck trying to do that yourself though, huh?
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It's a tough choice... Do you file bankruptcy, preserve capital so that you can reopen later on and bring those jobs back eventually? Or do you pay out severance to everyone and have nothing left to open up again. Those jobs will be gone forever.