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YogaWorks Gets Court Nod for Bankruptcy Liquidation Plan

May 4, 2021, 8:16 PM

Bankrupt yoga studio chain YogaWorks Inc. won preliminary court approval to liquidate the remainder of its estate, having wrapped up the sale of its business assets late last year.

The company’s Chapter 11 plan was “largely uncontested” and showed that “everyone was working very hard” to maximize stakeholder value, Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware said at a hearing Tuesday. The judge said she would approve the plan as soon as the company filed a final version.

YogaWorks’ liquidation plan splits unsecured creditors into two classes: one for unsecured creditors that each...

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