California Fitness Chain Explores Options to Ease Debt After Virus Shuts Gyms
- Company is considering debt restructuring, capital raising
- In-Shape ran more than 60 clubs in California before Covid-19
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In-Shape Health Clubs is exploring strategic options including a debt restructuring, raising capital or a potential sale as the Covid-19 pandemic continues to wreak havoc on gym operators, according to people with knowledge of the matter.
The California fitness chain, which laid off the majority of its employees in March, is working with an adviser as it considers alternatives after the coronavirus caused it to shut more than 60 locations, said one of the people. They asked not to be identified because the talks are private.