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24 Hour Fitness receives court approval of employee bonus plans
By Sarah Lizee
Olympia, Wash., Sept. 22 – 24 Hour Fitness Worldwide, Inc. obtained approval of its incentive and retention programs for key employees, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
As previously reported, Region 3 U.S. trustee Andrew R. Vara had objected to the company’s motion to implement the program.
Vara had said in his objection that “the KEIP, although styled as an incentive bonus program, appears to be a retention bonus program.”
24 Hour Fitness is a San Ramon, Calif.-based fitness-club operator. The company filed bankruptcy on June 15 under Chapter 11 case number 20-11558.
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