Workout-Strap Seller TRX Files for Bankruptcy With Plans to Sell – Bloomberg Law

Workout-Strap Seller TRX Files for Bankruptcy With Plans to Sell – Bloomberg Law

June 8, 2022, 4:57 PM

TRX, maker of black-and-yellow fitness straps used for bodyweight exercises and sold in infomercials, filed for bankruptcy on Wednesday with plans to sell the business.

The company listed assets and liabilities of no more than $50 million each in its Chapter 11 bankruptcy petition, filed in California. The filing allows TRX to cut debt and keep operating while it searches for a buyer.

The move comes amid “headwinds facing the business such as increased competition and macroeconomic challenges being faced by many other companies,” TRX said in a statement Wednesday. The company will continue paying employees and vendors, according …

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