Bally's Creditors Extend Default Deadline

CHICAGO -- The clock is ticking, and Bally Total Fitness has until the end of the month to release its audited financial statements or receive consent from its bondholders for a 90-day extension. Lenders recently extended the default deadline from Aug. 14 to Aug. 31. After that date, more than $700 million could become immediately due and payable. The company has received consent from the holders of its Senior Notes but is still waiting on consent from 50 percent of its subordinated note holders. If you'd like to comment on Bally's financial situation, please e-mail Amy Fischbach.

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