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Stock impact report

CT-based Planet Fitness parent company returns $2 million in COVID relief funds [Yahoo! Finance]

Planet Fitness, Inc. (PLNT) 
Last planet fitness, inc. earnings: 2/25 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
in COVID-era federal funds it was not eligible to receive, the U.S. attorney's office announced. IGNITE Fitness Holdings paid the money to settle allegations that the company wrongly applied for and received a Paycheck Protection Program (PPP) loan, U.S. Attorney for Connecticut David X. Sullivan said. IGNITE owns more than 140 Planet Fitness locations in the U.S. and Canada, according to the company website. Congress created the PPP in March 2020 under the Coronavirus Aid, Relief and Economic Security (CARES) Act. Administered by the Small Business Administration, the program was meant to support small businesses struggling to pay employees and other expenses during the pandemic. When applying for PPP loans, borrowers were required to certify eligibility for the requested loans and that the information they provided was true and accurate. In December 2020, Congress approved funding for a second round of forgivable PPP loans, which became available to borrowers beginning in Janu Show less Read more
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