BowFlex Files Bankruptcy, Sells Assets

BowFlex is changing hands.

What’s happening: The company formerly known as Nautilus filed for Chapter 11 bankruptcy and agreed to be acquired by Johnson Health Tech for $37.5M.

Equipment brands BowFlex and Schwinn, plus digital fitness app JRNY, will join JHT’s equipment portfolio that includes  Matrix and Horizon.

For context: BowFlex has been focused on home exercise for 40 years — but over the past decade, it went all-in.

  • The company sold its StairMaster brand in 2009 and all commercial Nautilus assets to Core Health & Fitness in 2014.
  • In 2020, it offloaded B2B equipment brand Octane to TRUE Fitness.
  • In 2021, it acquired Swiss startup VAY, adding motion tracking to its app and smart dumbbells.

But, the brand’s stock plummeted post-COVID, forcing it to consider a sale.


Connected fitness companies are being forced to think beyond the home gym.

  • After buying MIRROR for $500M, lululemon shuttered its smart screen business and tapped Peloton for app content.
  • Screen maker FORME acquired vertical climbing machine CLMBR, inking a commercial distribution deal with Woodway.
  • CITYROW sold to its manufacturing partner WaterRower after a Hydrow deal fell through.

Elsewhere… Echelon entered B2B, Tonal is partnering with sports orgs, and Peloton is still searching for a path forward.

Looking ahead: As the fallout from flawed pandemic-era decision-making continues, there’s more fitness consolidation to come. Recalibrating to meet exercisers on their own terms, equipment makers that deliver sustainable, channel-specific growth will find success.

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