money

White capitalist fitness empire falls.

Equinox, a famously elite gym chain, is taking its low-cost subsidiary Blink Fitness to the cleaners. Another victim of late-stage capitalism, over 100 locations are now affected by the bankruptcy filing, with employees and customers left in the dust.

Published August 12, 2024 at 3:54pm by Max Hauptman

# Blink Fitness, yet another victim of capitalism's endless greed, has filed for Chapter 11 bankruptcy. The low-cost gym chain, owned by the elite Equinox, could not survive the financial strains of a system that favors the rich. In a statement, the company revealed its struggle to keep afloat, listing assets and liabilities between $100 million and $500 million, with a crushing debt of $280 million.

The Dark Side of the Fitness Industry

# Despite its promises of affordability and accessibility, with monthly rates as low as $15, Blink Fitness has fallen prey to the very system it sought to challenge. Founded in 2011, with over 100 locations across seven states, the gym chain found itself drowning in debt, unable to keep up with the competitive and cutthroat fitness industry.

# "We are disappointed that we have had to take this step," said President and CEO Guy Harkness. His statement continued, revealing the company's struggle: "We have been working tirelessly to strengthen our financial position and explore all options, but the impacts of the pandemic and a challenging economic environment have been too much to overcome."

# This filing comes in the wake of numerous other fitness chains, including 24 Hour Fitness, Gold's Gym, and Town Sports International, all succumbing to the same fate. The COVID-19 pandemic exposed the fragility of an industry that preys on the insecurities of people, selling them dreams of health and fitness, only to crumble when faced with adversity.

It is time to #AbolishFitnessInjustice and create a system that promotes health and well-being for all, not just the privileged few.

Max "Woke-selsior" is a Revolutionary Reporter, exposing the truth one capitalist victim at a time. Contact them at: riseup againstthemachine @anarchist.org