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:YOGA   00:00AM GMT
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Debt Financing / Related, Restructuring / Reorganization, Other Pre-Announcement

Yogaworks Says Files For Chapter 11 To Implement Orderly Closing Of All Studios Across U.S.

Published: 10/15/2020 02:38 GMT
Yogaworks Inc (YOGA) - Takes Voluntary Action to Position Company for Future Success.
Files for Chapter 11 to Implement Orderly Closing of All Studios Across U.S.has Entered Into a Purchase Agreement With Serene Investment Management Pursuant to Which Serene Will Serve As Stalking-horse Bidder.
Will Continue Operating and Investing in Streaming Yoga Classes and Education-focused Segments of Business.
Serene Investment Management Has Agreed to Acquire Yogaworks Digital and Education Business and Intellectual Property.
Receives Debtor-in-possession Loan Commitment to Support Ongoing Operations.
Does Not Expect Significant Changes to Employees' Job Responsibilities, Expects Current Employees Will Continue to Be Paid & Receive Benefits.