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

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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 …

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