FitLab’s integrated ecosystem has come unraveled.
What’s happening: The multi-brand fitness platform filed for Chapter 11 bankruptcy, reporting $100M–500M in liabilities to 1K–5K creditors.
House money. Founded in 2019, FitLab sought to unify studios, experiences, and equipment in an integrated Performance Lifestyle platform, using M&A of high-profile brands for rapid growth.
Notable acquisitions included adventure race Ragnar, equipment maker Assault Fitness, yoga chain Y7 Studio, and run studio Mile High Run Club — with it also powering Laird Hamilton/Gabby Reece’s XPT and, most notably, Nike Studios.
Shuttered. Earlier this year, reports of high churn, rising debt, and race cancellations emerged. Nike ended its deal before partnering with The Yard Gym months later. Assault shipments stopped. MHRC and Y7 closed all studios.
As the courts sort through the claims, an outside investment group is funding Ragnar’s scheduled calendar en route to acquisition, while [solidcore] founder Anne Mahlum paid Y7 instructors’ missing payroll.
Looking ahead: Taking a big swing, unifying diverse, operationally complex businesses was a compelling concept that proved difficult to execute, serving as a cautionary tale for sweeping roll-ups.
