Many private equity firms have shown interest in purchasing the popular fitness company, Peloton Interactive, Inc., according to CNBC. The New York-based company is currently grappling with a sizable debt of nearly $1.7 billion and has been experiencing financial losses for more than three consecutive years.
Just last week, Peloton disclosed several financing strategies aimed at boosting its cash flow to appeal to potential buyers. These included workforce reductions and cutbacks in marketing efforts, as well as research, development, IT, and software departments. The company estimates that these measures could help pare down its expenditure by more than $200 million by the end of 2025.
Despite these ongoing efforts, no definitive financial decisions regarding the purchase deal have been made yet. Meanwhile, on a positive note, Peloton's stock is on the rise, currently up by 13.9 percent, to $4.04 on the Nasdaq.
