The luxury gym chain is carrying a totally of more than $1.1bn debt altogether.
Equinox Holdings has tasked Kirkland & Ellis and Centerview Partners with helping the brand steer its way through its sizable debt obligations. One such obligation is the repurchase of debt tied to its SoulCycle spin studio chain. The company has until February to repurchase the debt, which has been pushed back from the original deadline of May 2020.
As well as this, the brand has other debts. The landlord for its West Village location in Manhattan has confirmed that the gym is behind on their rent by around $1.3M, having only paid about $135,000 since March.
The coronavirus has undoubtedly put stress in the business. As with many other fitness facilities, Equinox gyms were not prepared to adhere to social distancing measures and this has been something that has been one of the brands key struggles.
