Blink Fitness chain bankrupt: the fate of branches?

Blink Fitness Files for Chapter 11 Bankruptcy

Blink Fitness, an Equinox-owned chain of gyms, has filed for Chapter 11 bankruptcy protection. The company, with over 100 locations in 7 states, seeks a buyer and has received $21 million in financing to continue operations.

"Over the last several months, we have been focused on strengthening Blink’s financial foundation and positioning the business for long-term success." - Guy Harkness, President and CEO of Blink Fitness.

In its petition, Blink listed assets and liabilities of $100-$500 million and debt of $280 million. Founded in 2011, the gym offers monthly rates of $15 to $39. Despite a 40% revenue increase in the last 2 years, the company joins other fitness chains that have struggled since the COVID-19 pandemic, including 24 Hour Fitness, Gold’s Gym and Town Sports International.

Sources/URLs:

• https://locations.blinkfitness.com/
• https://www.press.blinkfitness.com/blink-fitness-takes-action-to-position-business-for-future
• https://www.usatoday.com/storytelling/max-hauptman/