Are Bally's Problems at an End?

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Now that Bally Total Fitness has re-emerged from bankruptcy for the second time, have we seen the last of problems associated with this health club company? It's hard to say. Bally has certainly decreased its debt to a more manageable level ($100 million vs. $800 million). And it has dropped a lot of clubs, which should help it be a little leaner.

But a lot of Bally clubs are needing some TLC. (See this example of problems at one Bally club in Miami.) And Bally's problems go back a long way. If Michael Sheehan and his execs can turn around this company, they'll certainly be hailed as heroes.

What do you think Bally's chances are of getting back on the right track now under this new plan and new board?

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