NEW YORK — Flywheel Sports Inc., which offered spin classes at its fitness studios around the country, has filed for Chapter 7 bankruptcy with plans to permanently close.
The company, headquartered in New York City in the Flatiron District, was founded in 2010.
In its bankruptcy filing, Flywheel Sports Inc. estimated it has between 1,000 to 5,000 creditors. It estimated it has between $10 million and $50 million in assets and between $50 million and $100 million in liabilities.
Travis Frenzel, the company's president, signed the document, filed Monday in the Southern District of New York.
Todd Meyers, an attorney at Kilpatrick Townsend & Stockton LLP in New York, is representing Flywheel.
Flywheel had expanded nationwide, to cities including Denver, Atlanta, Boston, Chicago and Seattle. The Denver Union Station location at 1900 17th St. opened in 2018. The company offered classes both in-person and on-demand, focused on cycling, strengthening and recovery.
>>Watch above video: Colorado woman hosts outdoor fitness classes to help others coping with grief
SUGGESTED VIDEOS: Local stories from 9NEWS