YouFit Health gets extension of DIP facility maturity, sale milestone

By Sarah Lizee

Olympia, Wash., Jan. 11 – YouFit Health Clubs, LLC received an extension of the maturity date and the sale milestone of its $31,795,518 senior secured superpriority revolving credit facility, according to a notice filed Saturday with the U.S. Bankruptcy Court for the District of Delaware.

The maturity date was extended to the earlier to occur of the closing date of the bankruptcy sale and Jan. 31.

The milestone under the DIP facility relating to the closing of the sale was extended to Jan. 31 from Jan. 15.

Alter Domus (US) LLC is the administrative agent, as previously reported.

Of the facility’s amount, $10,598,506 is new money and up to $21,197,012 is a rollup of the pre-petition liabilities, as previously reported.

Interest is 13˝% per year.

YouFit is a gym chain with headquarters in Deerfield Beach, Fla. The company filed Chapter 11 bankruptcy on Nov. 9 under case number 20-12841.

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