People line up outside the Blink Fitness gym, March 26, 2021, in the Lower East Side neighborhood of New York. (AP Photo/Mary Altaffer, File) AP The Associated Press New York — Gym operator Blink Fitness has filed for Chapter 11 bankruptcy protection. Blink, an Equinox-owned chain with more than 100 locations, said Monday that it was filing for bankruptcy to help facilitate a 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” through the process. Also on Monday, Blink said it received a commitment for $21 million in new financing from existing lenders to help support its ongoing operations, pending court approval. Employees wages and vendor payments are expected to continue without interruption.
Founded in 2011, Blink has long billed itself as an affordable gym “for every body.” Membership plans range from about $15 to $39 per month plus maintenance fees, competitive with rates from larger rivals like Planet Fitness and LA Fitness. Blink is a smaller chain that operates in seven U.
S. states: New York, New Jersey, Pennsylvania, California, Illinois, Massachusetts and Texas. Blink fitness has two locations in Central New York, one in Syracuse and one in Liverpool , according to the company website.
In its Chapter 11 petition, which was filed in Delaware bankruptcy court, Blink listed both assets and liabilities in the $100 million to $500 mill.