Gold’s gym bankrupted by $500 million last month.
Gold’s gym is in bankruptcy court for the second time this year, this time after its bankruptcy filing was finalized in February.
Golds gym, which was founded by the late Steve Forbes, has been hit by the loss of its most valuable asset: its core business of training people for the U.S. Olympic team.
Gold said it was forced to close the gym because of a variety of factors.
For example, the gym lost about $200 million in its 2014 fiscal year, according to the company.
It also lost $150 million in the 2015 fiscal year.
Gold also is facing a series of lawsuits filed against it by other people who say they paid for gold medals to be worn at the gym.
Gold has filed for bankruptcy protection four times in the last three years.
This year, it filed for Chapter 11 protection twice.
That means the company will have the right to sell the assets it owns at auction, and it will be able to liquidate some of those assets.
Gold and other companies, including U.K.-based Royal Mail and Chinese-based Alibaba Group Holding, have also been forced to seek bankruptcy protection in recent years.