Planet Fitness Makes Last-Ditch Bid for Bankrupt Blink Fitness

Planet Fitness aims to outbid PureGym with offers exceeding $140 million as a Delaware court prepares to review the proposals.

Blink Fitness filed for bankruptcy in August, citing $280 million in debt, and has been seeking a buyer for its more than 100 locations.
PureGym initially won the bankruptcy auction with a $121 million bid, planning to expand its U.S. presence, particularly in New York and New Jersey.
Planet Fitness, previously outbid due to antitrust concerns, has submitted two revised offers: $142 million and $155 million, with the latter addressing regulatory issues.
A group of unsecured creditors has objected to the sale to PureGym, while Blink's debtors support it, citing PureGym as a well-financed buyer.
A Delaware bankruptcy court will hold a hearing to consider the competing bids and determine the future ownership of Blink Fitness.