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 lower offer made by U.K. gym chain PureGym is more likely to mitigate potential antitrust concerns, judge says.

U.K.-based gym operator PureGym has acquired a majority of bankrupt Blink Fitness' locations for $121 million, but it may face competition.

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.