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Monday, March 30, 2020

Planet Fitness preps for stretch with no gyms open

Planet Fitness (NYSE:PLNT) says it will take additional steps to proactively strengthen its financial liquidity and flexibility during the period of gym closings.
Due to the impact of COVID-19, Planet Fitness is withdrawing its 2020 outlook, temporarily closing all domestic and international Planet Fitness locations system-wide, and drawing down $75M under its revolving financing facility.
“We believe we have sufficient liquidity to carry us well beyond the end of this year, even in the event that clubs remain closed for the rest of 2020,” updates PLNT management.
PLNT -0.23% after hours to $48.49.
https://seekingalpha.com/news/3556523-planet-fitness-preps-for-stretch-no-gyms-open

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