Today's Video Headlines: 11/5/24
A group of unsecured creditors pushed to derail the sale of bankrupt gym chain Blink to a UK company after it won an auction over Planet Fitness , The Post has learned.
But on Friday, in the closing hour of the deal’s 48-hour challenge period, Planet Fitness submitted two larger competing bids: $141 million if no premerger regulatory filings were required, and $153 million if Planet Fitness had to submit the paperwork. Blink, which owns affordable gyms in states including New York and New Jersey, filed for Chapter 11 bankruptcy protections in August.Planet Fitness first made a bid on Oct.
Blink’s prices rose to between $22 and $45 a month at NYC locations following some price hikes over the past few years. The company also owns locations in New Jersey, Pennsylvania, California, Illinois, Massachusetts and Texas.
Bankruptcy Exclusive Gym Mergers & Acquisitions Planet Fitness
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