Equinox Seeks Delay on Promise to Backstop SoulCycle’s Debt
- Fitness company is talking with HPS ahead of February deadline
- Gyms have been hampered by pandemic closures and restrictions
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Equinox Holdings Inc. is seeking to rework some of its debts less than a month before the gym chain faces a deadline to cover a loan owed by its SoulCycle subsidiary.
Equinox, the luxury fitness chain backed by billionaire Stephen Ross’s Related Cos., is in talks with HPS Investment Partners, the lender that provided a credit facility to SoulCycle, according to people with knowledge of the matter. Equinox previously said it would guarantee part of Soul Cycle’s credit line of about $265 million, and struck a forbearance deal with HPS last May amid the spreading pandemic to delay the deadline until Feb. 15.