DISTRESSED DAILY: Equinox’s Restructuring Risk Inches Higher

Equinox Holdings Inc. is on shaky financial footing as the company’s risk of a distressed debt exchange inches higher and higher, according to a recent note from Moody’s Investors Service.

The luxury gym operator faces some difficulties as its debt maturities rapidly approach. Equinox is staring down $1.47 billion of loans due in the next year and a half -- a worrisome figure given the frailty of its liquidity position, Moody’s said.

At the end of the third quarter, the company reported $48 million in cash, which means that it wouldn’t be able to pay back its $76 million ...