Shape Holdings News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To print this article, all you need is to be registered or login on Mondaq.com. On December 16, 2020, In-Shape Holdings, LLC and two affiliated debtors (together, the "Debtors" or "In-Shape") filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. In-Shape Holdings, LLC is a health club operator in Stockton, CA. The company reports $50 to $100 million in assets and more than $100 million in liabilities, including a first-lien revolving credit agreement of up to $17 million and $53 million in term loans. In-Shape entered into an asset...

Dec. 16, 2020 3:03 pm ET California gym chain In-Shape Holdings LLC sought bankruptcy protection Wednesday to ease a proposed sale to a private equity firm as a surge of coronavirus cases intensifies the pandemic’s impact on the fitness industry. The private company, which operates more than 60 clubs throughout California with over 470,000 members, filed for chapter 11 protection while blaming its demise on the latest round of shutdown orders imposed by California Gov. Gavin Newsom. Backed...