YouFit seeks exclusivity extension out of ‘abundance of caution’

By Sarah Lizee

Olympia, Wash., Feb. 18 – YouFit Health Clubs, LLC is seeking a 60-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the plan filing period through May 8 and the solicitation period through July 9.

YouFit filed a Chapter 11 plan on Feb. 10, as previously reported.

Based on the debtors’ proposed timeline, confirmation of the plan would not occur until late April, which is after the current exclusive filing period would expire.

“Thus, out of an abundance of caution to bridge these cases to plan confirmation, the debtors seek a modest 60-day extension,” the company said in its motion.

“Based on, among other things, the debtors’ progress to date and the disruption and unnecessary expense that would be caused by the filing of any competing plan, an extension of the exclusivity periods is necessary and warranted.”

A hearing is scheduled for March 3.

YouFit is a gym chain with headquarters in Deerfield Beach, Fla. The company filed Chapter 11 bankruptcy on Nov. 9 under case number 20-12841.

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