Gym operator Blink Fitness has filed for Chapter 11 bankruptcy protection.
FILE People line up outside the Blink Fitness gym, March 26, 2021, in the Lower East Side neighborhood of New York. Blink, an Equinox-owned chain with more than 100 locations, said Monday that it was filing for bankruptcy to help facilitate a sale of the business. The New York-based company added that its gyms remain open — with Blink telling its members that it anticipates “limited impact on day-to-day operations” through the process.
In its Chapter 11 petition, which was filed in Delaware bankruptcy court, Blink listed both assets and liabilities in the $100 million to $500 million range. On Monday, the company said it has seen “continuous improvement” in recent financial performance, with revenue increasing by 40% over the last two years.
In a statement, Blink Fitness President and CEO Guy Harkless said that the company's leadership determined that using a court-supervised process to facilitate a sale “is the best path forward for Blink and will help ensure Blink remains the destination for all people seeking an inclusive, community-focused gym."
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