 |
FTI Consulting is handling the restructuring of 24 Hour Fitness as the chain of gyms blames the impact of the COVID-19 pandemic for triggering Chapter 11.
Based in San Ramon, CA, the company runs more than 400 fitness centers across the US.
24HF expects the majority of its clubs will reopen by the end of June and the rest by the end of the year. They have been retooled for the COVID-19 environment with touch-free check-in/check-out, stringent cleaning and social distancing protocols.
“If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11," said CEO Tony Ueber.
He said the restructuring will provide 24HF the financial strength and flexibility to accelerate its business transformation plan, which includes the closing of 130 locations.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
