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24 Hour Fitness Gets Another Week To Work Out Rent Issues

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > 24 Hour Fitness Gets Another Week To Work Out Rent Issues

24 Hour Fitness Gets Another Week To Work Out Rent Issues

Law360 (July 24, 2020, 5:22 PM EDT) — 24 Hour Fitness told a Delaware bankruptcy judge on Friday that its debtor-in-possession lenders have given the fitness chain another week to work out terms with its landlords before they must ask for final approval of their $250 million financing package.

At a telephonic hearing, U.S. Bankruptcy Judge Karen Owens granted 24 Hour’s request to move the hearing for final DIP approval to Wednesday after counsel for the fitness chain told her that the lenders had moved the deadline for approval to next Friday and that it would use the time to try and work out terms with landlords in revolt…

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