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Fitness International, LLC (f/k/a LA Fitness International, LLC) has secured a $300 million loan from the government’s Main Street Lending Program, said Robert Wilson, the Company’s general counsel, WSJ reports. The Company is heavily burdened by nearly $1.7 billion in debt. The government financial injection provides breathing room for LA Fitness, but the Company may still need to restructure its debt, according to people familiar with the matter. LA Fitness has hired Moelis & Co. to help resolve its financial challenges, the people added.
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