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Parent company of Bravern’s DavidBartonGym files Chapter 11 March 9, 2011

Posted by Erik Swanson in Articles, Blogs, Development, Retail News.
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The parent company of  upscale fitness center DavidBartonGym is seeking Chapter 11 bankruptcy protection in New York.  Their location at Bellevue’s Bravern mixed-use center will, for now, stay open as it attempts to restructure roughly $65 million debt. Besides three New York locations, DBG also has locations in Chicago, and Miami. David Barton’s revenue last year totaled over $28 million, which was a significant increase over 2009. However, the company racked up debt of $65.5 million during its expansion through 2009 which was mostly accrued from their extravagant tenant improvements and high rents. Looking at DBG’s website it’s easy to see why…   More information from PSBJ here.

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