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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