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Blink Fitness, an affordable gym chain owned by Equinox aimed at making "every body" feel welcome, has filed for Chapter 11 bankruptcy, the company said Monday. The announcement comes as the ...
NEW YORK (AP) — Gym operator Blink Fitness has filed for Chapter 11 bankruptcy protection. Blink, an Equinox-owned chain with more than 100 locations, said Monday that it was filing for ...
The chain is currently owned by luxury fitness company Equinox Group — whose brands also include Soul Cycle, Pure Yoga and Equinox Fitness Clubs. The membership prices of those clubs are far more expensive than Blink's rates. Blink's bankruptcy filing arrives as much of the fitness industry works to bounce back pandemic-era losses.
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YouFit was founded by Rick Berks. [1] The first YouFit, in St. Petersburg, Florida, opened in 2008 [2] and grew to over 100 gyms across the United States. [2] Berks separated from YouFit in May 2020, citing differences with the firm’s financial backers in his resignation letter.
The complaint stated that the company had made “it virtually impossible for members to cancel their memberships and has even refused to honor many members’ cancellation requests”. Namorato's representative stated that competitors Equinox Group, Planet Fitness and Blink Fitness had automatically suspended membership charges due to the ...
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) made changes to American bankruptcy laws, affecting both consumer and business bankruptcies. Many of the bill's provisions were explicitly designed by the bill's Congressional sponsors to make it "more difficult for people to file for bankruptcy."
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