Crunch Enters Ch. 11, Seeks Sale To Creditors

Law360, New York (May 6, 2009, 12:00 AM EDT) -- Fitness club operator AGT Crunch Acquisition LLC has filed for Chapter 11 bankruptcy as part of a plan to be acquired by the company's senior secured lenders.

Crunch will be acquired by New Evolution Fitness Co., a private equity firm focused on the health and fitness industry, and certain investing affiliates of Angelo Gordon & Co., according to a Chapter 11 petition filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York

The sale will be completed through the Chapter 11 process,...
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