Equinox-Owned Blink Fitness Announces Bankruptcy and Sale Plans
Monday, 12 August 2024, 10:12
Bankruptcy Filing and Financial Support
Blink Fitness, a subsidiary of Equinox, has officially filed for bankruptcy. In a strategic move, the company has announced its plan to seek a buyer while simultaneously securing $21 million in funding from existing lenders.
Details of the Restructuring
- The $21 million comes in the form of debtor-in-possession financing.
- This financing is pending court approval.
- Blink aims to reopen its facilities under a new ownership structure.
This restructuring effort is vital for the gym to continue its operations and adapt to the changing market landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.