TSI has had multiple legal issues regarding its cancellation policies. 587 Town Sports International Holdings jobs including salaries, ratings, and reviews, posted by Town Sports International Holdings employees. Town Sports International Holdings, Inc. Real time Town Sports International Holdings (CLUB) Cash Flow. Shareholders have been substantially diluted in the past year. About Town Sports International Holdings, Inc. Town Sports International Holdings, Inc. is a diversified holding company with subsidiaries engaged in a number of business and investment activities. [11] An article in Bloomberg revealed that Walsh was considering having the company file for bankruptcy. Karen Geary. Industry: PSC, Philadelphia Sports clubs has over 8 locations in Philadelphia and New Jersey, WSC, Washington Sports Clubs, has over 17 locations in D.C., Maryland and Virginia. These five companies got it wrong this week. Companies in these three sectors face headwinds. Several employees stated that many of the company's current issues came to a head after the appointment of Walsh as CEO. Announces Appointment of Chief Executive Officer and Departure of Chief Operating Officer", "Attorney General Obtains Settlement with Washington Sports Clubs Addressing Cancellation and Billing Practices", "AG Racine Sues Washington Sports Club for Misleading District Consumers About Membership Cancellation Policies, Billing Practices, and Fees", "Former members flex muscle with class action lawsuit against New York Sports Club", "Former Employees Say New York Sports Club Has Mishandled Customer Memberships For Years", "Boston Sports Clubs Laid Off All Its Employees Monday Night", "NYSC Continues to Charge Membership Dues Despite Gyms Being Shut", "Coronavirus US Live: Mary Namorato, a New Yorker separated from her daily gym work-out, has filed a lawsuit against New York Sports Clubs...", "Town Sports International Holdings, Inc.'s Unlawful Response to the COVID-19 Pandemic and National Emergency", "N.Y. Sports Clubs Owner Considers Bankruptcy While Gyms Stay Shut", "New York Sports Clubs to finally refund fees, credit fees, amid coronavirus closure", "SEC Filing | Town Sports International Holdings, Inc", "Bankrupt New York Sports Clubs Owner Seeks Buyer Amid Loan Talks", https://en.wikipedia.org/w/index.php?title=Town_Sports_International_Holdings&oldid=1019617665, Health care companies established in 1973, Companies that filed for Chapter 11 bankruptcy in 2020, Medical and health organizations based in New York (state), Companies traded over-the-counter in the United States, Wikipedia articles in need of updating from June 2014, All Wikipedia articles in need of updating, Articles needing additional references from August 2017, All articles needing additional references, Articles with multiple maintenance issues, Creative Commons Attribution-ShareAlike License. New York City is home to the majority of the clubs under the banner of NYSC or New York Sports Clubs. Town Sports International Holdings, Inc. is one of the leading firms in the Sporting Activities. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Or just another movement? Town Sports International Holdings, Inc. (“TSI”) has responded to the mandatory closing of its health clubs due to the COVID-19 pandemic. Karen Geary Integrated Media Executive - Beasley Media. After a few periods of membership bleeding and overall poor performance, the gym operator is priced to sell. Market data powered by FactSet and Web Financial Group. CORPORATE ADDRESS: 1001 U.S. North Highway 1, Suite 201 Jupiter, FL 33477 Jupiter, FL 33477 Newburyport, MA. On January 6, 2020, Town Sports International, LLC (“TSI”), a wholly owned subsidiary of the Issuer, entered into an asset purchase agreement (the “Purchase Agreement”) with Flywheel Sports, Inc., the parent entity of which is majority owned by an affiliate of the Adviser, Flywheel Buckhead LLC, Flywheel Astor Place LLC, Flywheel CCDC LLC, Flywheel Park Avenue LLC, Flywheel San Francisco, LLC, … NEW YORK / ACCESSWIRE / March 23, 2020 / Today Town Sports International Holdings, Inc. ("TSI" or the "Company") announced the appointment of Phillip Juhan as … Town Sports International Holdings, Inc., together with its subsidiaries, owns and operates fitness clubs in the Northeast and Mid-Atlantic regions of the United States. Show Me the Money, Town Sports International Holdings, Town Sports International Holdings Beats Analyst Estimates on EPS, Copyright, Trademark and Patent Information. Hotels, Restaurants and Leisure, 1001 US North Highway 1 Suite 201 Patrick Walsh was appointed CEO on September 30, 2016.[2]. TSI and the Attorney General settled this dispute in November, 2016, with TSI agreeing "to clearly disclose its cancellation policies, cease misleading consumers about how they can cancel, and not bill consumers who canceled their memberships. You can also walk just three minutes to the bus stop at Tucson’s Steakhouse to ride the Salina CityGo bus. United States Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. A former employee told Forbes that while no gym company was "100% ethical" there was "maybe a little too much" unethical behavior at the company. Five days later the company consented to freeze memberships across the board, however the return of the fees that had been charged was not addressed. Is this meaningful? [7] Town Sports International continued to charge member dues, resulting in widespread outrage. [12], Three weeks later, under pressure from the Attorneys General, the company agreed to issue credits and refunds of fees that had been charged to members. Stay within minutes of both I-135 and I-70 when you reserve a hotel room at the Country Inn & Suites. Town Sports International wants to be the apple a day that keeps the doctor away in NYC. [5], Forbes magazine reported that the company had a history of mishandling customer memberships, and that as of April 2020 had at least 24 membership-related federal lawsuits filed against it in a five-year span; a number disproportionately higher than TSI's competitors. This article about a corporation in the service industry is a stub. Sports and Recreation. The Company’s largest operating subsidiary has been involved in the fitness industry since 1973 and has grown to become one of the largest owners and operators of fitness clubs in the Northeast region of the United States . © 2021 Town Sports International Holdings, Inc. - All rights reserved. The company owns and operates some 160 full-service health clubs, about two-thirds of which are in the New York City area under the New York Sports Club banner. Founded in 1973 and based in New York City, the firm went public on June 6 of 2006 on NASDAQ. The question is: Can its business become as attractive as its valuation? Address Westborough, MA. Report Job. Heather has 5 jobs listed on their profile. [13], On September 14, Town Sports International filled for Chapter 11 bankruptcy, which allows for the company to remain open and to reorganize. Namorato's representative stated that competitors Equinox Group, Planet Fitness and Blink Fitness had automatically suspended membership charges due to the closures. About Town Sports International Holdings, Inc. Town Sports International Holdings, Inc. is a diversified holding company with subsidiaries engaged in a … This Registration Rights Agreement (including all exhibits hereto and as may be amended, supplemented or amended and restated from time to time in accordance with the … Does Town Sports International Holdings Measure Up? Consumer Discretionary Town Sports International Holdings (or TSI Holdings) is an operator of fitness centers in the Eastern United States, California and in Switzerland. Risk Analysis. Town Sports International Holdings, Inc. is a diversified holding company with subsidiaries engaged in a number of business and investment activities. New York-based Town Sports International Holdings, Inc. is one of the leading owners and operators of fitness clubs in the Northeast and mid-Atlantic regions of the United States and, through its subsidiaries, operated 158 fitness clubs as of December 31, 2014, comprising 107 New York Sports Clubs, 30 Boston Sports Clubs, 13 Washington Sports Clubs (two of which are partly-owned), five Philadelphia Sports … Business data for Town Sports International Holdings: This page was last edited on 24 April 2021, at 11:36. The company, through its subsidiaries, operates fitness clubs. 01581 USA. Real time Town Sports International Holdings (CLUB) stock price quote, stock graph, news & analysis. Town Sports International Holdings Inc operates in the fitness industry. The single most important factor in a company's success is the team that's leading the company, Beware the Headwinds Facing Casual Dining, Gyms, and Teen Retail Stocks, Why Town Sports International Holdings, Inc. Shares Got Clubbed. Town Sports International Holdings, Inc. operates as a diversified holding company that owns subsidiaries engaged in a number of business and investment activities. Its brands include New York Sports Clubs, Boston Sports Clubs, Philadelphia Sports Clubs, Washington Sports Clubs, Lucille Roberts, TMPL Gym and Total Woman Gym and Spa. View Heather Loveless’ profile on LinkedIn, the world's largest professional community. "[9], On April 3, the Attorneys General of the states of New York, Pennsylvania and the District of Columbia sent a letter[10] to CEO Patrick Walsh demanding he immediately cease charging monthly membership fees. New York City Metropolitan Area. Based on hundreds of complaints filed with our offices, it appears that TSI – which does business in our States as New York Sports Club, Town Sports International Holdings is one of the two leading owners and operators of fitness clubs in the Northeast and Mid-Atlantic regions of the United States and the third largest fitness club operator in the United States, in each case as measured by number of clubs. TSI’s corporate structure provides flexibility to make investments across a broad spectrum of industries in order to create long-term value for shareholders. of CAPS members think CLUB will outperform the market, Sector: The complaint stated that the company had made “it virtually impossible for members to cancel their memberships and has even refused to honor many members’ cancellation requests”. © 2021 Town Sports International Holdings, Inc. - All rights reserved. Industry. Please update this article to reflect recent events or newly available information. [4], In May 2019, a separate class action lawsuit was filed in New York against TSI, further alleging that the chain ignored members' cancellation requests and collects fees after closing members' accounts. Revenue has declined by 1% over the past year. A high-level overview of Town Sports International Holdings, Inc. (CLUB) stock. CORPORATE ADDRESS: 1001 U.S. North Highway 1, Suite 201 Jupiter, FL 33477 Town Sports International Holdings, Inc. is a diversified holding company with subsidiaries engaged in a number of business and investment activities. Karen McGrath. In the filing, the company reported liabilities in the range of $500 million and $1 billion with assets in the same range. The Town Sports International Holdings, Inc. is one of the leading organizatations in its industry. You can help Wikipedia by expanding it. It owns and operates fitness clubs in the Northeast and Mid-Atlantic regions of the United States. This represents a 4.8 percent increase over last year's third quarter earnings of $110.17 million as well as the company’s ninth straight quarter of revenue growth. Town Sports International Holdings (or TSI Holdings) is an operator of fitness centers in the Eastern United States, California and in Switzerland. The Company is an owners and operators of fitness clubs in the Northeast and Mid-Atlantic regions of the United States. "[3] In January 2019, the Attorney General of DC filed a new lawsuit against TSI, alleging that the company had violated the terms of its 2016 settlement and again violated the District's consumer protection laws. Search job openings at Town Sports International Holdings. CS1 maint: multiple names: authors list (, Learn how and when to remove these template messages, Learn how and when to remove this template message, "Boston Sports Clubs' parent company files for bankruptcy amid uproar from gym members", "Town Sports International Holdings, Inc. We offer free parking, making it easy to rent a car and explore this college town’s attractions like Tony’s Pizza Events Center. Town Sports International Holdings, Inc. Reports Third Quarter 2019 Results Matthew.Callan… Tue, 11/05/2019 - 16:01 Town Sports International Holdings, Inc. Reports Third Quarter 2019 Results November 5, 2019 at 4:01 PM EST This release is a backfill from a Ne… While recent results were lackluster, the gym chain is looking good on a refinancing and possible real-estate sale. [14] Most of the liabilities are in the form of back rent. [8], On March 26, Mary Namorato filed suit against Town Sports International, alleging that the company was “defrauding and stealing from gym members” by continuing to charge the chain's approximately 605,000 members. Boston is home to the second largest majority of clubs under the banner of BSC or Boston Sports Clubs with over 25 locations in Metro Boston and Rhode Island. The company also had an F rating from the Better Business Bureau for failure to respond to 54 complaints and failure to resolve 22 more. TSI, the parent company, has its corporate offices in New York City. Town Sports International Holdings, Inc. owns and operates fitness clubs in the northeast and mid-Atlantic regions of the United States. View all jobs at Town Sports International Holdings, Inc. Report Job. Select a reason for reporting this job. Is this meaningful or just another movement? General Manager at Town Sports International. Glassdoor gives you an inside look at what it's like to work at Town Sports International Holdings, including salaries, reviews, office photos, and more. Town Sports International, the owner of New York Sports Clubs, filed for Chapter 11 bankruptcy on Monday after the coronavirus pandemic forced … We contribute positively to our communities through volunteering, networking, philanthropic giving, education and more with a goal of positively improving the lives of those we serve. Town Sports International Holdings Inc. has reportedly been in talks with advisers and lenders to get ahead of its nearly $200 million loan maturity in November. About Town Sports International Holdings, Inc. Town Sports International Holdings, Inc. is a diversified holding company with subsidiaries engaged in a … Town Sports International Holdings, Inc. maintains its prominent position in market by carefully analyzing and reviewing the SWOT analysis. More Details. Its brands include New York Sports Clubs, Boston Sports Clubs, Philadelphia Sports Clubs, Washington Sports Clubs, Lucille Roberts, TMPL Gym and Total Woman Gym and Spa. www.townsportsinternational.com. There are over 120 NYSC clubs in New York, New Jersey and Connecticut. Corporate Regional offices are located in Boston and Philadelphia. Is Town Sports Ready to Get Back in Shape? Town Sports International Holdings Inc – REGISTRATION RIGHTS AGREEMENT by and among TOWN SPORTS INTERNATIONAL HOLDINGS, INC. and THE HOLDERS PARTY HERETO Dated as of December 28, 2020 (December 29th, 2020). [1], On September 16, Bloomberg reported that Town Sports International and its creditors were pursuing a sale of the business.[15]. As of 2007 TSI Holdings operated over 155 clubs with approximately 483,000 members. [6], On March 16, 2020, all gyms were temporarily closed due to the COVID-19 crisis, and all non-executive staff subsequently terminated. Town Sports International Holdings Inc. (TSI), Jupiter, Florida, reported third quarter 2019 revenue of $115.49 million, according to financials released by the company on Nov. 5. All content is posted anonymously by employees working at Town Sports International Holdings. Why Town Sports International Holdings, Inc. Shares Tumbled, Golf Clap for Town Sports International Holdings. This is the Town Sports International Holdings company profile. At Town & Country Credit Union we value and show deep respect for the communities in which we live and work. In 2016, the Attorney General of the District of Columbia investigated TSI for violations of the District's consumer protection laws. Primary metrics and data points about Town Sports International Holdings. Town Sports International Holdings, Inc. (the “Company” or “TSI”), is a diversified holding company with subsidiaries engaged in a number of business and investment activities. 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