Above: Nexstar Media Wire video on explaining bankruptcy. SAN DIEGO (FOX 5/KUSI) — Luxury boxing gym, The BXNG Club, has abruptly closed all of its remaining locations in San Diego after a potential sale as part of bankruptcy proceedings fell through, leaving some of its members each out of hun dreds of dollars. The shuttering ends a saga that has engrossed the local boxing community since last July, when the gym's owners first filed for bankruptcy as it contended with significant debt accrued amid years of rapid expansion — something the gym had advertised as a hallmark of its recent brand. At the time, Jason Turner, the attorney representing The BXNG Club in the proceedings, told FOX 5/KUSI it was looking to "reorganize, restructure and come out of bankruptcy stronger than before." Months later, that outcome failed to come to fruition. In a status report filed with the bankruptcy court earlier this week, the gym said it had previously been looking to potential buyers to offload some of its assets under a Chapter 11 liquidation plan, allowing them to pay off the business' $600,000 of debt while staying open. When San Diego-area Forever 21 stores are set to close due to bankruptcy Those discussions ultimately went awry. The failure to secure a sale, on top of declining revenues in the months since bankruptcy proceedings began, forced its owners to close its remaining branches in Solana Beach, East Village and Rancho Bernardo on Tuesday, according to the filing. One other location in Kearny Mesa had closed earlier in the bankruptcy proceedings, while a planned expansion to Los Angeles had been indefinitely tabled. The bankruptcy may now be converted to a Chapter 7 case, meaning a federal trustee will take over to liquidate The BXNG Club's remaining assets, or it will be dismissed. A judge is expected to make a determination on next steps during a hearing on Monday. Members say they were informed of the closure in an email sent by The BXNG Club last Friday, but since, some say the gym has gone radio silent. Former members have recounted difficultly getting in touch with its owners to figure out if they will be able to get their money back. One client, who had purchased a membership for the Los Angeles location during a pre-sale last year, attempted to reach them numerous times since July to see whether the gym would ever open or if the hundreds of dollars he paid up front would be refunded. Other members have also recounted in posts on social media spending upwards of $600 to $1,000 on training packages in the months prior to the closure that they have not been able to recoup from the gym directly. A trainer at another boxing gym, San Diego Combat Academy, told FOX 5/KUSI The BXNG Club appeared to have continued selling its one-year paid in full membership options, which start at $1,299, to prospective clients up until it closed. In a call with FOX 5/KUSI on Thursday, Turner said the company is still talking to some prospective buyers to potentially reopen individual gyms or secure revenue that could be used to pay off what the company owes — and refund members, if there is money to spare. The attorney noted there is nothing concrete yet and "no promises" can be made about any potential outcome. Yet he maintains The BXNG Club is "doing its best" to take care of its members. Turner also mentioned they are exploring working out a deal with other local boxing gyms to possibly transfer their members. Several gyms, including Victory MMA and San Diego Combat Academy, have already extended offers to former BXNG Club members on their own. FOX 5/KUSI reached out to The BXNG Club directly for more information, but did not hear back prior to publication. MORE: Business The closure of The BXNG Club marks the end of an era for one of the local boxing community's foremost players, with roots dating back to its founding as "The Boxing Club" in 1999. The company rebranded under "The BXNG Club" banner when it changed hands to its current owner, former professional Muay Thai fighter Artem Sharoshkin, back in 2014. Sharoshkin, in a statement to FOX 5/KUSI in July, attributed his gym's financial woes to "economic headwinds and pandemic consequences” that had affected businesses across all industries. “Decreased membership base and rising utility costs, combined with the overall increased cost of operating in California, have put immense pressure on our organization,” Sharoshkin said at the time. “We are going through a necessary restructuring to secure the business’s future and continue to provide our customers with the unmatched community and fitness experience that they know and love.” ...read more read less