- Reuters
UPDATE 1-BowFlex files for bankruptcy with $37.5 mln buyout offer
Home fitness company BowFlex filed for Chapter 11 bankruptcy protection late Tuesday, with an agreement to sell the company for $37.5 million to Johnson Health Tech. The Vancouver, Washington-based company benefited from a spike in demand for treadmills, stationary bikes, and weightlifting equipment during the COVID-19 pandemic in 2020, as consumers stopped gathering in gyms and exercised at home. But the spike in demand was a double-edged sword, according to the company's court filings.
- Reuters
CORRECTED-BowFlex files for bankruptcy with $37.5 mln buyout offer
Home fitness company BowFlex filed for Chapter 11 bankruptcy protection late Tuesday, with an agreement to sell the company for $37.5 million to Johnson Health Tech. The Vancouver, Washington-based company benefited from a spike in demand for treadmills, stationary bikes, and weightlifting equipment during the COVID-19 pandemic in 2020, as consumers stopped gathering in gyms and exercised at home. But the spike in demand was a double-edged sword, according to the company's court filings.
- CNN Business
BowFlex files for bankruptcy
Peloton isn’t the only at-home exercise equipment company feeling the pain: BowFlex is, too, announcing Tuesday that it has filed for bankruptcy.
