Bike Company Wahoo Fitness, Lenders Tap Advisers Amid Cash Drain

Wahoo Fitness LLC has hired bankers at Solomon Partners Securities to explore financing options as the fitness technology company burns through cash and consumers pull back, according to people with knowledge of the situation.

Meanwhile, a group of lenders is working with law firm Paul Hastings LLP and consultancy Berkeley Research Group to help with negotiations, said the people, who asked not to be identified because the matter is private.

A representative at Wahoo didn’t return a request for comment. Solomon and Rhone declined to comment, while messages left with Paul Hastings and Berkeley Research Group were not returned.

Atlanta, ...