S&P previously downgraded the rating in both March and November. 24 Hour Fitness entered a 30-day grace period, but S&P does not expect the company to make the payment during that time either. 24 Hour Fitness did not reply to Forbes’ request for comment. 24 Hour Fitness suspended membership billing on April 16, after a social media backlash and a lawsuit filed by a gym member. 24 Hour Fitness says a comprehensive program has been put in place to ensure “a healthy and safe club environment.” It includes touch-free check in; certain equipment removed; and signage in the clubs reminding members about social distancing and safety protocols.

Source: Forbes June 09, 2020 15:53 UTC