BowFlex to file for bankruptcy

By Oregon Small Business Association Foundation,

BowFlex, a Vancouver-based company selling home exercise equipment that began as Nautilus, has been delisted by the New York Stock Exchange after announcing in early March that it would file for Chapter 11 bankruptcy, according to the Portland Business Journal. Surging sales during gym closures amid the Covid-19 pandemic plunged when gyms reopened, forcing the company into selling assets. Johnson Health Tech of Taiwan is paying $37.5 million for the assets. Alan Chan, a chief legal officer and top company executive for two years, also announced his resignation.  Bowflex has long been a success story for the NW.


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