24 Hour Fitness Can Access Final $200M In Ch. 11 Loan

Law360 (July 31, 2020, 7:19 PM EDT) -- Partly shuttered and bankrupt gym chain 24 Hour Fitness got a Delaware judge's nod to tap into the final $200 million of its Chapter 11 financing loan on Friday, in part after proposing a trio of compromise options for dozens of restive landlords left unpaid since the case began in June.

U.S. Bankruptcy Judge Karen B. Owens approved the final installment of the company's overall $250 million debtor-in-possession loan, after saying the court had been comforted by concessions made to landlords and assurances that the case would remain solvent until its proposed year-end confirmation exit.

Ryan Preston Dahl of Weil Gotshal...

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