Planet Fitness loses 11th hour bid to acquire bankrupt Blink [CNBC]
Planet Fitness, Inc. (PLNT)
Last planet fitness, inc. earnings: 2/25 04:05 pm
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Source: CNBC
A Delaware bankruptcy court judge said accepting PureGym's offer would avoid antitrust risks. Planet Fitness lost its bid in bankruptcy court to acquire budget fitness chain Blink Holdings, according to court filings viewed by CNBC. Planet Fitness placed its competing eleventh hour bids early this month during a 48-hour challenge window. The two higher bids came after it lost out in bankruptcy auction to U.K.-based, privately held fitness chain PureGym. Late Tuesday, Delaware's bankruptcy court formally accepted PureGym's $121 million offer, which initially won at auction in late October. J. Kate Stickles, bankruptcy judge in the U.S. Bankruptcy Court of Delaware, said in Tuesday's hearing that PureGym's offer would avoid antitrust risks. The company only operates three locations in the U.S., which it first entered in 2021. PureGym's offer, assuming Blink's liabilities, also comes with 60 of Blink's fitness centers still operating in New York and New Jersey. “PureGym is c
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- 12/9/24 - Form 4
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