BREAKING NEWS Blink Fitness to close 10% of its gyms across the US after filing for Chapter 11 bankruptcy READ MORE: Equinox launches eye-watering $40,000 yearly membership By Germania Rodriguez For Dailymail.com Published: 12:25, 13 August 2024 | Updated: 12:57, 13 August 2024 e-mail 1 View comments Blink Fitness says it is closing 10 percent of its 101 gyms after filing for Chapter 11 bankruptcy protection. The affordable gym chain says the locations which are losing 'are non-core to Blink's footprint and predominantly located outside the New York City metro area.
' 'We regret having to take this action but have already alerted the members and staff at the impacted gyms and are taking steps to minimize the impact on employees and members,' a spokesperson added. Blink has not confirmed the locations of the gyms earmarked for closure. It has fitness centers in seven states: New York, New Jersey , Pennsylvania , California , Illinois , Massachusetts and Texas .
Ninety-four of its gyms are corporate-owned, with the remaining seven franchise locations. Blink, which is owned by luxury gym chain Equinox, filed for Chapter 11 bankruptcy in the District of Delaware , as reported by Bloomberg on Monday. Bosses say they want to continue to operating their remaining gyms while restructuring their business.
It listed assets and liabilities of between $100 million and $500 million each in its petition. Blink Fitness, which is owned by luxury gym chain Equinox, filed for Chapter 11 bankrup.