PASSAIC COUNTY, NJ — Blink, a low-cost gym chain with locations in Clifton and Passaic, has filed for Chapter 11 bankruptcy and plans to close about 10 percent of its gyms.
Founded in 2011, Blink Fitness has long promoted itself as an affordable gym “for everyone.” Membership prices range from about $15 to $39 per month (plus maintenance fees), which is competitive with prices at larger rivals like Planet Fitness and LA Fitness.
The company operates 101 gyms nationwide, including 15 in the Garden State. Blink leaders said Monday that all gyms would remain open while they tried to facilitate a sale — but a company spokesperson confirmed to Patch on Tuesday that about 10 percent of locations would be closed.
“The gyms being closed are not part of Blink’s core business and are predominantly located outside the New York metropolitan area,” the spokesperson said. “We regret having to take this action, but we have already informed members and employees of the affected gyms and are taking steps to minimize the impact on employees and members.”
The company did not comment on which locations would be closed.
Blink is part of the Equinox Group, a luxury fitness company whose brands also include Soul Cycle and Pure Yoga.
On Monday, Blink also announced it had secured a commitment from existing lenders for $21 million in new financing to support ongoing operations, pending court approval. Employee wages and payments to suppliers will continue without interruption, and the company said it has no plans to increase fees.
“The actions we are taking now are designed to create a solid financial foundation so we can continue to provide you with the world-class gym experience you expect,” said Guy Harkless, president and CEO of Blink, in a letter to members.
Blink is active in six other US states: New York, Pennsylvania, California, Illinois, Massachusetts and Texas.
The Associated Press contributed to this report.
