Blink Fitness, a budget-friendly gym chain owned by luxury fitness company Equinox Group, has filed for Chapter 11 bankruptcy protection. The fitness brand, with more than 100 centers in the U.S., is the latest chain to seek bankruptcy post-pandemic, following companies such as New York Sports Club, 24 Hour Fitness and Gold's Gym. Earlier this year, Equinox also launched a $40,000 annual gym membership aimed at its most affluent member base in an effort to improve its finances as well. Unlike Blink, Planet Fitness reported strong membership growth of 7% year over year in its second quarter to reach a total of 19.7 million members. Planet Fitness shares recently hit a 52-week high, reaching levels not seen since May 2023.

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Persons: Guy Harkless, Blink, — Organizations: Equinox Group, New York Sports Club, CNBC, Fitness, Planet Fitness Locations: U.S