Failure to reach agreement over a lease is resulting in the closing of Gold’s Gym in Alcoa.
The Alcoa gym provided members with a statement that the New Midland location would permanently close effective May 31. Memberships have been transferred to National Fitness Center, giving Alcoa Gold’s Gym members access to the National Fitness facilities at 1644 W. Broadway Ave., Maryville, and 2934 Alcoa Highway, Knoxville.
Also, Olympia Athletic Club, 398 Olympia Drive, Maryville, is accepting the displaced Gold’s Gym members.
Gold’s Gym International in Dallas would not comment; however, employees at the Alcoa facility confirmed failure to renew the lease was the cause of the closing.
Martin O’Boyle, president of Deerfield, Fla.-based Commerce Group, which owns New Midland Plaza, said he had tried since the beginning of January to get Gold’s Gym to commit to a new lease.
“For the last 3½ months I have been saying, ‘Guys, what are you going to do?’” Boyle said.
He attributed the lack of progress on renewing the lease to an unstable management situation with Gold’s International.
In July 2018, Bloomberg News reported TRT Holdings, owner of Gold’s, said it was putting the fitness company up for sale. Last month, Club Industry, a fitness industry media outlet, reported TRT Holdings had called off the sale attempt and appointed a new CEO.
“Finally I said, guys, you got to give me an answer, your boss is back now. In answer they said, ‘we’re not going to renew,’” O’Boyle said.
Lee Sloan, president of National Fitness Center, a Knoxville-based fitness company, was contacted by Gold’s and said the Maryville and Knoxville locations will be part of National Fitness’ “seamless” transfer of membership from the Alcoa Gold’s.
“Whatever they’re paying, that rate carries over to National Fitness Center,” Sloan said.
Brian Miller, general manager of Olympia Athletic Club in Maryville, said his club also is offering Alcoa Gold Gym members a transition.
“We have two different options. First option is that if they want to keep the rate they’re currently at with Gold’s, they can keep that rate forever. Second option is if they’re paying at something higher than our rate, then we’ll charge them our rate.”