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A popular US gym chain filed for Chapter 11 bankruptcy on Monday, but said it would not stop serving customers as a result.
by the time
This is Blink Fitness, a fitness chain that aims to appeal to all audiences and make “everyone” feel welcome, CBS News explained. The company has positioned itself for years as an inclusive, welcoming fitness chain with a focus on “democratizing fitness for everyone,” the company said in an announcement shared with PR Newswire.
The bankruptcy filing comes in the middle of the company’s sale process. The vendor was specifically used to facilitate that process. “Throughout the sale process, Blink intends to continue to provide its members with the high-quality fitness experience they have come to expect,” the company said.
As detailed by the above-mentioned media, Blink has shown improvement in its financial performance over the past two years, with its revenue increasing by nearly 40 percent, and the fitness company expects this year to do its best in the last five.
The Company’s Board of Directors and management team have determined that utilizing the court-supervised process to improve the Company’s presence and execute the sale of the business is the best path forward for Blink. “This will help ensure that Blink remains the destination for anyone looking for a comprehensive, community-focused fitness facility,” said Jay Harkless, President and CEO of Blink Fitness.
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