Blink Fitness, Owned By Equinox, Files For Chapter 11 Bankruptcy

Gym operator Blink Fitness has filed for Chapter 11 bankruptcy protection, Wyatte Grantham-Philips reported for the Associated Press (AP).

Founded in 2011, Blink has long promoted itself as an affordable gym “for every body.” I Photo: Blink Fitness / PR Newswire

Blink, an Equinox-owned chain with more than 100 locations, has announced that it was filing for bankruptcy to help facilitate the sale of the business.

The New York-based company added that its gyms remain open, with Blink telling its members that it anticipates “limited impact on day-to-day operations” during the process.

Blink operates in seven U.S. states: New York, New Jersey, Pennsylvania, California, Illinois, Massachusetts, and Texas.

Additionally, Blink announced that it had received a commitment for $21 million in new financing from existing lenders to support its ongoing operations, pending court approval.

Employees’ wages and vendor payments are expected to continue without interruption. Founded in 2011, Blink has long promoted itself as an affordable gym “for every body.”

Membership plans range from about $15 to $39 per month, plus maintenance fees, making them competitive with larger rivals like Planet Fitness and LA Fitness.

In its Chapter 11 petition, filed in Delaware bankruptcy court, Blink listed both assets and liabilities in the $100 million to $500 million range. Total debts for Blink and its affiliates filing for Chapter 11 amount to more than $280 million.