Finance 24 Hour Fitness Prepares for Bankruptcy While Gyms Start to Open Staff Editor May 30, 2020 Share on Facebook Share on Twitter Share via Email Subscribe Now Log in Gym owner 24 Hour Fitness Worldwide Inc. is preparing for a potential bankruptcy to cut its debt as it re-opens locations across the country with precautions in place for social distancing. The operator of more than 430 mid-tier gyms is in talks with investors over the terms of a loan that would keep the company operating through a court restructuring, according to people with knowledge of the situation. The proposed Chapter 11 filing would cut 24 Hour’s borrowings by swapping debt for equity and handing control to lenders, said the people who asked not to be named discussing a private matter… READ MORE @ BloombergGym owner 24 Hour Fitness Worldwide Inc. is preparing for a potential bankruptcy to cut its debt as it re-opens locations across the country with... Membership Required You’ve reached your 3-article monthly limit. Subscribe to ATN Pro for unlimited access to industry-leading coverage, insights, and analysis shaping the future of fitness and wellness. ATN Pro members get: Unlimited access to Athletech News articles Exclusive access to ATN Pro-level reporting Discounts to ATN the Innovation Summit VIP access to community events Exclusive email newsletters Subscribe Now Already a member? Log in Already a member? Log in here Tags: 24 Hour Fitness 24 Hour Fitness Worldwide Inc. Bankruptcy
