the staff of the Ridgewood blog
Paramus NJ, Blink Fitness, a budget-friendly gym chain, filed for Chapter 11 bankruptcy protection on Monday, raising concerns about the future of its 15 New Jersey locations. The chain, known for its low-cost memberships starting at just $15 per month, has not yet specified which locations might face closure. In New Jersey, Blink operates gyms in Clifton, East Orange, Ironbound, Irvington, Linden, Lodi, Journal Square, Paramus, Parsippany, Passaic, Perth Amboy, Plainfield, Nutley, South Orange, and Union.
Owned by Equinox Group, which also owns luxury gyms, Blink Fitness announced that the bankruptcy filing is intended to facilitate the sale of the business. The filing comes just months after Blink revealed a multimillion-dollar investment plan to upgrade 30 of its busiest locations with over 1,700 new pieces of equipment.
While Blink Fitness is a smaller chain, it has a presence in multiple states including New York, Pennsylvania, California, Illinois, Massachusetts, and Texas. The bankruptcy filing highlights the challenges the fitness industry continues to face as it recovers from the financial impact of the COVID-19 pandemic. Many gyms, including Blink, were forced to close temporarily during the height of the pandemic, leading to significant losses.
As Blink navigates its bankruptcy proceedings, gym-goers in New Jersey and beyond may face uncertainty about the future of their local fitness centers.
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Gyms make money on un- and under-used memberships. Making memberships more “affordable” does not incentivize people to go the gym. Charging people less for what they don’t use is obviously a stupid business model.
I get my gym membership(s) free since i have the AARP united health medicare supplement policy. it saves me $$$