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Bally Total Fitness Might File For Bankruptcy

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Mar 16, 2007 1:02 pm US/Eastern

Bally Total Fitness Might File For Bankruptcy

NEW YORK (CBS) ― You might go there to shed a few pounds, but now Bally Total Fitness is financially out of shape.

The company says it has more than $800 million in outstanding debt and only $45 million in cash. That means it might have to file for bankruptcy protection.

Bally's also told the SEC that it can't file an annual report for 2006.

(© MMVII, CBS Broadcasting Inc. All Rights Reserved.)

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