Bowflex Files for Ch. 11 with Johnson Health Tech as Stalking Horse
The post-pandemic home fitness crash has claimed another victim, as the former Nautilus filed for Chapter 11 protection in U.S. bankruptcy court in NJ, seeking approval of a $37.5 million asset sale agreement with WI-based Johnson Health Tech Retail, Inc., who will serve as the stalking horse bidder in an April auction. Bids are due by April 6, followed by the auction on April 8 and sale hearing at 10 a.m. April 15, with other procedural matters set for the week between. On news of the filing, the NYSE suspended trading ... Log in to view full article.