BowFlex Inc., along with its affiliate, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of New Jersey on March 4, 2024. The debtor listed both its assets and liabilities in the range of $50 million to $100 million. The debtor is represented by Joseph J. DiPasquale of Fox Rothschild, LLP and Sidley Austin LLP as its legal counsels.

The debtor also hired FTI Consulting, Inc. as its financial advisor, FTI Capital Advisors as its investment banker and Epiq Corporate Restructuring, LLC as its claims agent.