In July, Blink’s secured lenders provided $6.9 million in “protective advances” to support the company leading up to the bankruptcy filing, with that amount to be included in the DIP financing. Alongside the secured debt, Blink also faces $103.5 million in unsecured loans from its parent Equinox and $15.9 million in unsecured trade debt.
Blink Fitness Files for Bankruptcy : Impact and Legal Representation
As of the bankruptcy petition date, Blink Fitness and its franchisors operated 101 gyms across the United States, employing a total of 2,074 employees. The bankruptcy case has been assigned to U.S. Bankruptcy Judge J. Kate Stickles, and Blink is represented by attorneys from Young Conaway Stargatt & Taylor LLP, including Benjamin C. Carver, Sean T. Greecher, Rebecca L. Lamb, Allison S. Mielke, and Timothy R. Powell.
