24 Hour Fitness DIP credit agreement amended, milestones extended

By Sarah Lizee

Olympia, Wash., Oct. 20 – 24 Hour Fitness Worldwide, Inc. amended its super-priority senior secured debtor-in-possession credit agreement again to extend certain milestones, according to a notice filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Under the amended agreement, the debtors must enter into a restructuring support agreement and file a Chapter 11 plan and disclosure statement by Oct. 7, receive approval of the disclosure statement by Nov. 12 and receive confirmation of the plan by Dec. 18.

The effective date must occur on or before Dec. 28.

As previously reported, the debtor filed its Chapter 11 plan of reorganization and related disclosure statement on Oct. 7.

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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