Blink Fitness Files for Bankruptcy, Potential Gym Closures Loom
Affordable gym options could become scarcer as Blink Fitness, a budget-friendly gym chain, has filed for bankruptcy. The company, known for its low-cost memberships ranging from $15 to $45 per month, announced on Monday that it may shutter an unspecified number of its 101 locations.
Blink Fitness, owned by luxury gym chain Equinox, operates primarily in urban and suburban areas across New York, New Jersey, California, and Texas, serving over 400,000 members.
The bankruptcy filing highlights the lingering effects of the COVID-19 pandemic on the fitness industry. Approximately 25% of U.S. gyms and studios—around 10,000 facilities—permanently closed during the pandemic, according to the Health & Fitness Association. Major chains like 24 Hour Fitness and Gold’s Gym also filed for bankruptcy during this period.
Blink’s financial struggles stem from the pandemic’s impact, which forced the temporary closure of all its clubs in 2020, leaving the company without revenue to sustain operations. Despite reopening, Blink has been grappling with overdue rent payments and a number of unprofitable locations.
Industry expert Rick Caro, president of fitness consulting firm Management Vision, remarked on the situation, stating, “It’s a sign that this is an industry still going through growing pains post-Covid.”
The fitness industry is also facing new challenges, including consumers cutting back on discretionary spending and the growing popularity of GLP-1 drugs for weight loss. In response, luxury gyms like Life Time are acquiring weight loss clinics, while Equinox is developing exercise programs tailored for individuals using these medications.
