She said she feels sorry for all of the employees at the club who had no warning that they would be out of work and have no prospects for new jobs in a very difficult economy.

Longtime Bally member Doug McCowan of South Jordan said he joined the Midvale club in 1986 and was disappointed that it was closing, but he added that it wasn't totally unexpected.

"I was kind of wondering how long they were going to stay open because of the dwindling membership, but it comes as kind of a shock," he said. "I thought they might have let us know beforehand."

Larsen would not comment on the hasty manner in which Bally handled the closings.

According to CapitalIQ, Bally's has total debt of $811.3 million and cash and short-term investments of just $70.8 million. Total assets are $411.4 million.

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Contributing: Associated Press

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