The latest announcement is out from BowFlex (BFX).
Bowflex Inc. and its subsidiaries have filed for Chapter 11 bankruptcy, planning to sell most of their assets while continuing to operate. They’ve entered a “stalking horse” asset purchase agreement with Johnson Health Tech Retail Inc. for over $37 million, subject to court approval and potential higher bids during the auction process. Additionally, Bowflex has secured debtor-in-possession financing of up to $25 million to maintain operations throughout this period. Shareholders are warned that trading the company’s stock is now highly speculative, and there’s no guarantee of recovery from the bankruptcy proceedings.
Learn more about BFX stock on TipRanks’ Stock Analysis page.
