Vancouver, Washington-based BowFlex, a manufacturer of fitness training equipment, has announced a Chapter 11 bankruptcy reorganization and a sale of substantially all of its assets to Johnson Health Tech Retail.
The bankruptcy will impact 202 employees commencing April 19, 2024.
CEO Jim Barr noted, "As a result of the post-pandemic environment and persistent macroeconomic headwinds, we conducted a comprehensive strategic review and determined this was the best path forward for our Company. We are fortified by the potential partnership with Johnson Health Tech and encouraged by the multiple parties that have indicated an interest in bidding for our Company.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?