A bankruptcy judge delayed issuing a decision on 24 Hour Fitness Worldwide Inc.'s approval request for a $250 million bankruptcy loan, expressing concern that the gym operator may not be able to sustain a sufficient revenue stream after California’s latest business shutdown order in response to Covid-19.
Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware continued Tuesday’s hearing to Wednesday morning. The judge said she didn’t have confidence in the loan budget submitted with the loan request now that a substantial amount of revenue will be cut off with the newly closed locations.
“What ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.