Many private equity firms are making move to buy out Peloton Interactive, Inc. (PTON), CNBC reports.
The move comes as the New York City-based company is struggling to pay off nearly $1.7 billion debt and has faced losses for more than consecutive 3 years.
Last week, Peloton announced certain refinancing strategies such as layoffs, and budget cuts in marketing, research and development, IT, and software departments, to create free cash flow to attract buyers. The strategy would also help the company to reduce its expenses by over $200 million by the end of 2025.
However, a financial decision on the deal has not been made.
Currently, Peloton's stock is moving up 13.9 percent, to $4.04 on the Nasdaq.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.