Business & Finance
FitLab Blames Bankruptcy on Loss of Nike Partnership, Trump Tariffs
Key Points
Health FitLab Blames Bankruptcy on Loss of Nike Partnership, Trump Tariffs FitLab Inc., which makes cardio equipment and runs boutique fitness studios, said it filed bankruptcy following disruptions to its supply chain and the loss of a key deal with Nike Inc. Nike led FitLab’s series B financing with a $20 million investment, nearly all of which was used to launch and operate 10 Nike-branded studios in Southern California and Austin. Running these studios “required high costs” because of...
Health
FitLab Blames Bankruptcy on Loss of Nike Partnership, Trump Tariffs
FitLab Inc., which makes cardio equipment and runs boutique fitness studios, said it filed bankruptcy following disruptions to its supply chain and the loss of a key deal with Nike Inc.
Nike led FitLab’s series B financing with a $20 million investment, nearly all of which was used to launch and operate 10 Nike-branded studios in Southern California and Austin. Running these studios “required high costs” because of the level of service and brand standards at each location, FitLab’s Chief Restructuring Officer Nicholas Rubin said in a Wednesday court filing.