BowFlex, Bankrupt Home Fitness Firm, Approved to Sell Itself

Home fitness equipment maker BowFlex Inc. won bankruptcy approval of the sale of its business to Johnson Health Tech Retail Inc. for $37.5 million, unless a higher offer materializes in the next few weeks

• The offer from Johnson Health Tech will serve as a stalking horse bid, meaning it will set the floor price for BowFlex’s assets at a potential Chapter 11 auction
  • Johnson Health Tech, which manufactures elliptical machines, treadmills and other cardio equipment, will acquire BowFlex’s assets if a better offer doesn’t come in
• Judge Andrew Altenburg Jr. said during a hearing Friday he’d approve Johnson Health Tech’s ...