Aspen Group Halts WellNow Sale as Lenders Lawyer Up Over Looming Debt Deadline

1 articles · Updated · Bloomberg · Jul 6

Aspen Group told lenders in recent weeks it is no longer pursuing a sale of WellNow, its urgent care clinic chain, after shopping the asset to potential buyers.
The reversal comes as a debt deadline approaches and lenders have retained legal counsel, signaling a more contentious restructuring backdrop.
WellNow had been put up for sale as part of Aspen’s effort to address its debt burden, but that option has now been shelved.
Aspen is owned by Leonard Green & Partners, Ares Management Corp. and American Securities, leaving its next financing move in focus as lender pressure builds.