Affordable Gym Chain Blink Fitness Seeks Chapter 11 Protection Amid Planned Business Sale
Blink Fitness, an affordable gym chain with over 100 locations, has filed for Chapter 11 bankruptcy protection to facilitate the sale of the business. Blink received over $20 million in new financing from existing lenders to support ongoing operations pending court approval. Blink, owned by Equinox Group, is pursuing a sale but has provided few details. Equinox, which owns Soul Cycle, Pure Yoga, and Equinox Fitness Clubs, is not listed as a debtor in the Chapter 11 proceedings and isn't expected to file for bankruptcy.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03Blink Fitness, an affordable gym chain with over 100 locations, has filed for Chapter
00:0711 bankruptcy protection to facilitate the sale of the business.
00:11Blink received over $20 million in new financing from existing lenders to support ongoing operations
00:17pending court approval.
00:19Blink owned by Equinox Group is pursuing a sale but has provided few details.
00:24Equinox which owns SoulCycle, Pure Yoga, and Equinox Fitness Clubs, is not listed as a
00:28debtor on the Chapter 11 proceedings and isn't expected to file for bankruptcy.
00:32For all things money, visit Benzinga.com.