Article: Fitness Club Owner in Illinois Files for Chapter 7 Bankruptcy.

Knight Ridder/Tribune Business News

Aug. 10 -- After more than a two-year struggle to save his home and business, John Connors has filed for bankruptcy and Union Planters Bank is planning to take over the Kings Point fitness club.

Union Planters attorney Ronald Pallmann said the bank will ask a judge Friday to allow it to "take over operation of the club."

Connors and his wife, Mary Lynn, filed an emergency petition for Chapter 7 bankruptcy liquidation July 30, claiming between $500,001 to $1 million in assets and between $10 million and $50 million in debts.

The filing didn't include any of the required lists of specific assets or ...

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