Blink Fitness filed for bankruptcy to facilitate a sale, assuring members minimal impact on daily operations. $21M financing secured, supporting ongoing functions.
Company listed assets and liabilities of $100M-$500M, with debts exceeding $280M. Plans include potential lease rejections for unoperational facilities to cut costs.
Despite bankruptcy, Blink saw a 40% revenue increase in the last two years. Recently focused on enhancing member experiences at top gyms, post multimillion-dollar investment.
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