CorePower Yoga Reneging on Buyout Over Virus Worries, Suit Says

The owner of 34 CorePower Yoga LLC franchise locations asked the Delaware Chancery Court on Friday to stop the brand’s owner from using the novel coronavirus pandemic to back out of a $23 million deal to acquire the yoga studios.

“The agreement has no force majeure clause that would allow defendants to back out, so defendants have manufactured a series of excuses based on the temporary closure of their yoga studios,” the lawsuit says.

The first stage of the three-part deal was supposed to close April 1, with CorePower paying $6.3 million for eight Colorado locations owned by Level 4 ...