Gold's Gym Philippines clarifies it is not affected by the filing for bankruptcy by Gold's Gym USA

Gold's Gym Philippines clarified on Tuesday that it is not affected by the filing for bankruptcy of Gold's Gym USA.

In a statement released on Facebook, Gold's Gym Philippines said it is "not in any way affected by the decision of Gold's Gym US to close at least 30 of its company-owned clubs in the United States."

It added, "The financial restructuring of the operating arm of Gold's Gym in the US is unrelated to its franchise division, as well as other franchised operations in the US, Philippines and the rest of the world."

All 26 Gold's Gym clubs in the country have been closed since March 16 but it reassured its members that their membership will be extended according to the number of days it has been closed.   

Following Trade Secretary Ramon Lopez's pronouncement on Saturday that gyms are not advisable to operate even under GCQ because they are high-risk, Gold's Gym Philippines released a statement making a case for why gyms should be allowed to resume operations.

According to Gold's Gym Philippines President and CEO Mylene Dayrit, people need to keep healthy amid the pandemic, exercise is a great way to manage stress, and in the U.S., gyms are actually among essential services that needed to resume operations.

On Saturday, Gold's Gym USA announced that it has filed for Chapter 11 bankruptcy protection due to the coronavirus disease 2019 (COVID-19) pandemic. — LA, GMA News