Blink Fitness Creditors Object to PureGym Sale After Higher Bid

Posted by November 5, 2024 Fitness
Blink Fitness Creditors Object to PureGym Sale After Higher Bid

The sale of Blink Fitness to British brand PureGym Ltd. faces a roadblock after a group of creditors of the bankrupt US gym chain objected to the result of an auction.

PureGym’s winning $121 million bid for Blink’s assets drew scrutiny from some creditors after an $142 million offer from a Planet Fitness franchisee, Supreme Orange LLC, emerged in the auction but wasn’t selected.

Blink, the low-cost offshoot of luxury-gym chain Equinox, filed for Chapter 11 protection in August. It’s among a number of gyms that went bankrupt in the wake of the pandemic.

A person enters a Blink Fitness gym in the Brooklyn borough of New York. Gym chain Blink Fitness, a low-cost offshoot owned by luxury gym chain Equinox, filed for bankruptcy protection in August, the latest chain to succumb to stiff competition and higher costs.

Photographer: Yuki Iwamura/Bloomberg

The Planet Fitness-tied proposal “provides …

Related

Planet Fitness submits last minute bid to acquire fitness chain

Planet Fitness submits last minute bid to acquire fitness chain

Posted by November 6, 2024

A group of unsecured creditors pushed to derail the sale of bankrupt gym chain Blink to a UK company after it won an auction over Planet Fitness, The

Read More

DeVon Franklin Confirms New Relationship With Fitness Trainer – WBLS

DeVon Franklin Confirms New Relationship With Fitness Trainer – WBLS

Posted by November 5, 2024

Entertainment producer and pastor DeVon Franklin has officially announced his new relationship with fitness trainer Maria Castillo. The pair attended the 14th

Read More

Laura Horvath to Compete at Asia Fitness Championship

Laura Horvath to Compete at Asia Fitness Championship

Posted by November 5, 2024

Laura Horvath will step onto the competition floor for the first time since the CrossFit Games this Friday at the 2024 Rogue Invitational. After that, she wi

Read More

‘Empower, Transform, Inspire’: Evolve Fitness opens new location in Cullman – The Cullman Tribune

‘Empower, Transform, Inspire’: Evolve Fitness opens new location in Cullman…

Posted by November 5, 2024

Evolve Fitness celebrated the grand opening of its new location at 217 2nd Ave. SE in Cullman Saturday. (Contributed) CULLMAN, Ala. â€

Read More

Follow Us

Recent post