Planet Fitness (NYSE:PLNT) was unable to acquire bankrupt fitness chain Blink Holdings as the company’s last-minute bid was rejected by a Delaware bankruptcy court, according to court documents cited by media sources. Last week, Planet Fitness (PLNT ...

Originally trying to buy Blink's assets in the bankruptcy auction, Planet Fitness was turned down by the court because of possible antitrust concerns related to the fitness behemoth's large U.S. footprint. Accepting PureGym's offer helps Blink to avoid delays linked to antitrust laws and get on with business.

Planet Fitness lost a bid in bankruptcy court to acquire Blink Holdings. U.K.-based private gym chain PureGym won its bid to acquire Blink and its assets, including 60 of its gyms in New York and New Jersey. A Delaware bankruptcy court judge said accepting PureGym's offer would avoid antitrust risks.

A lower offer made by U.K. gym chain PureGym is more likely to mitigate potential antitrust concerns, judge says.

Planet Fitness is seeking to further grow its number of locations in a second bid for the Blink Fitness chain of workout facilities, according to new reports.

U.K.-based gym operator PureGym has acquired a majority of bankrupt Blink Fitness' locations for $121 million, but it may face competition.

Planet Fitness has made a last-minute offer to acquire the Blink, the bankrupt fitness chain owned by Equinox. News of the offer comes days after UK’s PureGym agreed to purchase more than 60

PureGym has been selected as a winning bidder for a substantial portion of the Blink Fitness assets following an auction in bankruptcy court. PureGym will pay $121 million in cash and assume certain liabilities.

Equinox Group-owned gym chain Blink Fitness filed for bankruptcy in August after a failed attempt by the luxury fitness group to enter the budget market.