U.S. fitness platform FitLab files for bankruptcy protection, blames bankruptcy on loss of Nike partnership

On November 4 local time, U.S. fitness platform FitLab filed documents with the U.S. Bankruptcy Court for the District of Delaware stating that the company and its 30 affiliated entities have filed for Chapter 11 bankruptcy protection under the U.S. Bankruptcy Code. The filing attributed the company's financial distress to factors including the loss of the Nike studio partnership, delays in acquisition financing, high business integration costs, and obstacles to supply chain and inventory financing. The documents show that Nike had led FitLab's Series B financing with a $20 million investment, almost all of which was used to open and operate 10 Nike-branded studios in Southern California and Austin, Texas. FitLab Chief Restructuring Officer Nicholas Rubin said that operating costs were high because each store needed to meet elevated service levels and brand standards. After Nike terminated the partnership in early 2026, FitLab took over the leases of the relevant stores under the agreement, leaving the company, more than two years after commencing operations, still bearing the costs of 10 stores that can no longer operate under the Nike studio name.