NEW YORK – Gym operator Blink Fitness has filed for Chapter 11 bankruptcy protection.

Blink Fitness, a chain owned by Equinox with over 100 locations, made the announcement on Monday. The company stated that the filing is a move to facilitate the sale of the business while assuring members that its gyms will continue operations with limited impact.

Additionally, Blink revealed that it secured $21 million in new financing from existing lenders to support ongoing operations and ensure that employee wages and vendor payments remain uninterrupted.

Founded in 2011, Blink is known for providing affordable gym memberships ranging from $15 to $39 per month across seven states in the U.S. The company has reported revenue growth of 40% in the past two years and continues to enhance member experiences at its most popular locations.

Blink’s decision to file for Chapter 11 bankruptcy comes as the fitness industry recovers from pandemic-related losses. Despite the challenges faced, visits to major gym chains have been on the rise, indicating a positive trend for the sector.