Equinox Group-owned gym Blink Fitness files for Chapter 11 bankruptcy protection

From CNBC: 2024-08-12 14:46:45

Budget-friendly gym chain Blink Fitness, owned by Equinox Group, files for Chapter 11 bankruptcy protection. The company, with over 100 U.S. locations, plans to sell its business with assets worth $100 million and liabilities of $500 million. Equinox Group completed a $1.8 billion funding round in March to refinance debt. Membership levels have nearly returned to pre-pandemic levels. Equinox also launched a $40,000 annual membership earlier this year for affluent members. Planet Fitness, a competitor, reported strong membership growth of 7% year over year.



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