Affordable Gym Chain Blink Fitness Seeks Chapter 11 Protection Amid Planned Business Sale

Benzinga
Benzinga
  • 2 weeks ago
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.

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