A customer works out at a 24 Hour Fitness center on July 31, 2012 in San Francisco, California.

Justin Sullivan

Gym chain 24 Hour Fitness is working with advisors at investment bank Lazard and law firm Weil, Gotshal & Manges to weigh options including a bankruptcy that could come as soon as the next few months, people familiar with the matter tell CNBC.

The chain is grappling with a…

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