Blink Fitness Chapter 11 Bankruptcy Official, Gym Closing Soon! Here's How It Goes
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In connection with the court-supervised process, Blink has received commitments of $21 million in new debtor financing from its existing lenders.
Once approved by the court, this new financing, combined with cash generated from the company's ongoing operations, will support the business throughout the Chapter 11 process, including paying salaries and employee benefits without interruption.
Known for its commitment to an inclusive environment, Blink operates in more than 100 locations across the US, including New York, New Jersey, Pennsylvania, California, Illinois, Massachusetts, and Texas.
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"We thank our entire corporate and gym teams for their continued dedication to our members, as well as our vendors and partners for their continued support," concluded Mr. Harkless. "We look forward to emerging from this process a stronger business."
