
Equinox will not be making invoice payments until further notice - Reedx
https://twitter.com/erinvandermeer/status/1247213743844573184
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Waterluvian
I'm amazed that they're bold enough to announce that they won't be paying
their bills. Is the culture of entitlement really that strong?

You call up each person/company you owe and you beg, hat in hand, for an
extension. Or you get an emergency loan or line of credit or file for
bankruptcy and stop paying bills that way.

But you can't just say, "the government made it so we are struggling so we've
decided to stop paying our bills."

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dragonwriter
No, the reality has long been exactly what Equinox is doing (or just not
paying and saying nothing), if people don't like it, they can sue you knowing
that the likely result is bankruptcy and them taking their chances with
bankruptcy court.

> But you can't just say, "the government made it so we are struggling so
> we've decided to stop paying our bills."

Yes, you manifestly can. If people don't like it, they have remedies, but as
it turns out, those remefies mostly suck if the rat get is actually insolvent,
especially if you are pretty far down the priority list of creditors. And they
suck even moreso when the courts aren't open.

~~~
olliej
You're right, you can declare bankruptcy and go into administration. That's
your way out.

You don't get to arbitrarily stop paying, and also keep doing business as
usual.

~~~
dragonwriter
> You don't get to arbitrarily stop paying

Yes, as has been demonstrated.by lots of companies lots of times, you _do_ get
to do that.

If other people don't like it, they have a variety of options of how to
respond, of course. But those options kind of suck, because they cost money
and, ultimately, you can't get blood from a turnip.

The biggest problem facing trying to do this is getting people to extend new
credit, which tends to place a hard wall for most efforts to do it, as not
being able to pay your old bills might not shut you down, but being unable to
get new goods and services will.

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treyfitty
And the real estate company that owns a large portion of Equinox said
companies are obligated to pay their rents. But they’re not obligated to pay
for services rendered? Scumbags.

[https://www.cnbc.com/2020/04/06/related-companies-ceo-
those-...](https://www.cnbc.com/2020/04/06/related-companies-ceo-those-who-
can-should-pay-their-rent.html)

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olliej
Are they declaring bankruptcy? If not I don't see how it's legal. Failure to
put aside savings for hardship is a failure in planning - we have been told
this repeatedly by economists, MBAs, and politicians.

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RandomWorker
The email they posted seems like an automated generated message. It doesn’t
refer specifically to the work she has rendered. This leads me to believe that
it might have been just to the general members? Are they sending this to the
rental/mortgages as well? I wouldn’t except such an email, except if they are
going out of business soon... are they going to foreclose? Fitness is
notoriously a fickle business.

