Town Sports International Holdings, the bankrupt owner of New York Sports Clubs, has reportedly worked out a takeover deal that will keep its gyms open. The company outlined plans for the deal — struck with private-equity firm Tacit Capital and various lenders — at a bankruptcy hearing Wednesday, according to the Wall Street Journal. The deal would allow the lenders to lead bidding for the company’s assets, known as a “stalking horse” bid. According to
source https://therealdeal.com/2020/09/17/bankrupt-new-york-sports-clubs-owner-makes-lender-takeover-deal/
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