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 ...

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.