Isagenix and a group of its term lenders reached a forbearance agreement, helping the supplement maker stave off a liquidity crisis stemming from falling sales.
The supplement maker and a majority of its lenders cut a deal letting Isagenix delay interest and amortization payments on its loan in exchange for a 1.5% payment-in-kind fee, according to a person with knowledge of the matter who asked not to be named because the matter is private.
The Gilbert, Arizona-based company announced the agreement Monday, without specifying terms. Isagenix, a multi-level-marketing company, has seen its sales slide amid increased competition, a smaller pool ...
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