Tue 09/27/2022 15:32 PM
Isagenix missed a principal interest payment on Friday, Sept. 23, before entering into a
forbearance agreement with an ad hoc group of lenders last week that lasts for 45 days, according to sources.
The company is aiming for an out-of-court restructuring to address its liquidity shortfall, upcoming revolver maturity in June 2023 and
potential covenant breach, sources said. In addition, the company has $18.8 million in amortization payments due before the end of the year and $5 million of...
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