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 ...
