Equinox Clinches Debt Relief Pact With Lender HPS Partners
- Company agreed to pay down debt and add additional protections
- Fitness industry has struggled amid Covid-19 capacity limits
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Equinox Holdings Inc. got relief on some of its debts tied to the luxury fitness chain’s SoulCycle subsidiary after agreeing to pay down a portion of the borrowings, according to people with knowledge of the matter.
Equinox, backed by billionaire Stephen Ross’s Related Cos., reached a deal that releases it from a limited guarantee of SoulCycle’s $265 million credit facility with lender HPS Investment Partners, the people said, asking not to be identified discussing a private matter.