DavidBartonGym’s parent company has filed for Chapter 11 bankruptcy protection, according to an article in the Puget Sound Business Journal.
Club Ventures Investments LLC listed The Bravern LLC as its second largest unsecured creditor — with $1.18 million owed on its lease — in its Chapter 11 filing in U.S. Bankruptcy Court in New York. Club Ventures estimated its assets at $10 million to $50 million, while its liabilities were estimated at $50 million to $100 million, according to the article. The company also owes the Seattle Times just under $74,000.
The upscale gym opened in downtown Bellevue in September 2009 as the company’s first on the West Coast. However, the article states that the health club cited an aggressive expansion, started in 2005, as a contributing factor to its current financial difficulties.
According to the article, Rivian Bell, DavidBartonGym spokeswoman, has said the company plans to restructure itself and renegotiate its leases in the coming months. Interim financing is available, so health club members will see “everything is the same,” in regards to daily operations, she said.
Absolutely no surprise here
Their price point is off. $100 a month is a lot for a gym without a pool. A lot of Bellevue residents that frequent the Bravern have the necessary personal workout equipment in their homes. Plus personal training coming to those home gyms is on the rise(Ramses). With their current price and facility offerings, potential clients will be working out at LA Fitness, their home gym, or the Bellevue Club.
Sp apparently they’ve been spending all the money on wild parties instead of stuff like, you know, rent and stuff.
I jumped on the bandwagon and joined when it first opened. I quit it tho. Staff was rude. One would think when a company is struggling for clients they would try to negotiate to keep your business or even find out why you are quiting them. The club was always empty. Lower prices from $120 per month and get some friendly staff and you might be able to to make some money. And get rid of the manager if you haven’t already. The guy sucked and was RUDE.
Probably the next Bravern tenant to go….I was a prior member there and the staff was rude and didn’t care about anything after I signed the membership agreement. The parking is ridiculous there too.
The Bravern is struggling. No doubt about it. David Barton is a prime example of the image Bellevue desperately wants but can’t seem to thrive on.
hello ProClub, this is opportunity knocking…
It’s just a bad location for the club and the whole atmosphere just felt a little weird. I miss the Dairy Queen. 🙁
I joined Bellevue Club and if you’re under the age of 30, monthly dues are only $104 per month for a single member. And they have pool and tennis
@KD: I believe Pro Club already has plans for the second phase of Lincoln Square.
@Jonka
The second phase of Lincoln Square is postponed indefinitely.
I will be surprised if it will be built within 10 years. Very sad.
From what I’ve heard there’s been some movement on permitting for the next phase of Lincoln Square recently, but that could just be a matter of keeping things from lapsing.