YogaWorks (OTCPK:YOGA) has filed for chapter 11 to implement orderly closing of all studios across the U.S.
The company has entered into a stalking horse bidder agreement with Serene Investment Management for acquiring YogaWorks' digital and education business as well as its intellectual property.
The company's operations will continue via its live stream and on-demand digital platforms, YogaWorks Live and MyYogaWorks.
The company has secured debtor-in-possession financing with Serene to support through the pendency of the reorganization.
