the San Francisco area, 1 in Louisiana and 8 in Colorado. The number of clubs still in the Bally chain continued to dwindle. The Bally Total Fitness location in Danville, California closed on June 22, 2012 and reopened as Danville Fit. The former Bally club in Colorado Springs, Colorado, changed ownership in June 2014, and became Voretex Fitness. In December 2014, 32 locations in New York, New Jersey, Denver, and San Francisco Bay Area were acquired by 24 Hour Fitness. The Greece, New York location closed without notice on December 30, 2014. The 106th St location in New York City became a Tapout Fitness center in August 2016, and the last Bally location in NYC closed on October 26, also becoming a Tapout Fitness center. As a result, Bally Total Fitness became completely defunct. As of 2022, the Bally Total Fitness name was still being used for a line of fitness equipment and clothing owned by FAM Brands. Bankruptcies Bally filed for bankruptcy in August 2007, with outstanding debts of $761 million. Over the preceding ten years, its stock price had fallen from a high of approximately US$37.00 to less than $0.37 on the Pink Sheets, a plunge of over 99% of its value. It was removed from the NYSE shortly thereafter. On October 1, 2007, Bally announced its emergence from bankruptcy court protection, 100% owned by a hedge fund, Harbinger Capital. Earlier that year, it had sold off its 16 Toronto health clubs to existing chains: 10 locations were sold to GoodLife Fitness, and 6 to Extreme Fitness, allowing the latter company its first move into the downtown core for what had heretofore been a suburban chain. On December 3, 2008, Bally again filed for bankruptcy due to problems arising from the global credit crisis. The company indicated at that time that it would explore options including reorganization or possibly even a sale, but that it hoped to emerge from bankruptcy as soon as possible. Investigations and controversies Bally Total Fitness has been the subject of controversy over its sales and membership cancellation practices, with some customers claiming they were misled into signing loans with terms up to three years using documents containing uncommonly-used language such as "Retail Installment Contract". Customers alleged that they subsequently found themselves dealing with collection agencies. In April 1994, Bally paid $120,000 to settle Federal Trade Commission charges of illegal billing, cancellation, refund, and