Planet Fitness ( NYSE: PLNT) was unable to acquire bankrupt fitness chain Blink Holdings as the company’s last-minute bid was rejected by a Delaware bankruptcy court, according to court documents cited by media sources.

Originally trying to buy Blink's assets in the bankruptcy auction, Planet Fitness was turned down by the court because of possible antitrust concerns related to the fitness behemoth's large U.S. footprint. Accepting PureGym's offer helps Blink to avoid delays linked to antitrust laws and get on with business.

A lower offer made by U.K. gym chain PureGym is more likely to mitigate potential antitrust concerns, judge says.

Planet Fitness lost a bid in bankruptcy court to acquire Blink Holdings. U.K.-based private gym chain PureGym won its bid to acquire Blink and its assets, including 60 of its gyms in New York and New Jersey.