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BowFlex to attract multiple bidders in bankruptcy sale process

A group of home fitness machines, including a BowFlex treadmill on the far left.

A group of home fitness machines, including a BowFlex treadmill on the left. Photo: Neil Godwin/Future Publishing via Getty Images

BowFlex, which filed for bankruptcy on Monday, is likely to attract multiple bidders in addition to Johnson Health Tech, currently in pole position.

Why it matters: While consumers may be pulling back on purchases of home fitness equipment, there's buyer interest in picking up established brands at a bargain.

Zoom in: Likely bidders include iFit, which owns NordicTrack, among other businesses, Axios has learned.

Context: Johnson Health Tech made a $37.5 million all-cash stalking horse bid for BowFlex, which sets the floor on valuation in a sale.

  • That process is expected to play out over the next 30 days.
  • BowFlex CEO Jim Barr has already said the company has received interest from multiple parties.

Catch up fast: Last year, the company changed its name to BowFlex from Nautilus, which it sold along with other non-core assets for $13 million.

  • Other brands under the BowFlex umbrella include Schwinn and JRNY.

BowFlex did not respond to a request for comment.

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