Affordable gym operator Blink Holdings aka Blink Fitness, an Equinox-owned chain with more than 100 locations, filed for Chapter 11 bankruptcy protection on Monday in the District of Delaware, docket 24-11686 (JKS).
At its first day hearing on Tuesday, the gym operator advised that it intended to sell all its assets. FOX Business noted that Blink issued a press release advising the filing is meant to “execute an efficient and value-maximizing sale process to optimize its footprint and position the business for long-term success.”
According to ABC News, the filing occurred as the fitness industry is trying to bounce back from the pandemic-era losses. Gyms and workout studios during the beginning days of COVID-19 were either locked down, shuttered or significantly limited their operations due to temporary closures. Interestingly, data from Placer.ai notes that visits to major fitness chains were up nearly every week between January and April.
If you are a landlord or trade creditor of Blink or one of its other brands, it is important to know your rights now. Stark & Stark’s Shopping Center and Retail Development Group can help. Our bankruptcy attorneys regularly represent landlords throughout the country, including recently in the Eastern District of Missouri, District of New Jersey, Southern District of New York, District of Delaware, District of Minnesota and the Western and Eastern Districts of Pennsylvania regarding a variety of issues. Most recently, our Group has represented landlords and trade creditors in the Rite Aid, JOANN’s, Party City, David’s Bridal, Christmas Tree, Buyk, Tuesday Morning, Mattress Firm, Toys R Us, EMS, Golfsmith, RadioShack and Sports Authority chapter 11 bankruptcy cases.
For more information on how Stark & Stark can assist you, please contact shareholders Thomas Onder at (609) 219-7458 (tonder@stark-stark.com) or Joseph Lemkin at (609) 791-7022 (jlemkin@stark-stark.com).
