BXNG Club Files for Chapter 11 Bankruptcy Amid Mounting Debt

The San Diego-born, high-end boxing club was on the hunt for investors earlier this year with its eyes set on expansion

The BXNG Club, a California-based chain of boxing fitness studios, filed for Chapter 11 bankruptcy late last month, while its upcoming fifth location in Los Angeles is still in pre-sale mode.

The high-end boxing brand, which offers a variety of fitness classes ranging from kickboxing, boxing, Muay Thai, Jiu Jitsu, cycling, yoga and personal training, announced a funding round back in March with the hopes of securing $2 million for its expansion plans. A web page outlining the investment opportunity with a minimum investment of $50,000, is still active.

Court documents show that the boxing fitness brand has $5.1 million in assets and nearly $5.7 million in debts.

An attorney representing The BXNG Club in Chapter 11, Jason Turner, told FOX’s KSWB-TV in San Diego that the fitness brand intends to reorganize and restructure and “come out of the bankruptcy stronger than before” while continuing to support its members.

Artem Sharoshkin, retired pro fighter and founder and CEO of The BXNG Club, told the outlet that the boutique boxing brand filed for Chapter 11 due to economic headwinds and “pandemic consequences.” 

Twelve-month memberships at The BXNG Club locations begin at $159 per month while all-access memberships (permitting access to all locations) are $239 per month.

“Decreased membership base and rising utility costs, combined with the overall increased cost of operating in California, have put immense pressure on our organization,” Sharoshkin told KSWB-TV. “We are going through a necessary restructuring to secure the business’s future and continue to provide our customers with the unmatched community and fitness experience that they know and love.”

Sharoshkin was first a kickboxing class client at 18 years old before becoming an employee at the fitness club, then known as The Boxing Club. By 2014, Sharoshkin had taken the reins as owner, rebranding the club to its current name. He told The San Diego Tribune in 2022 that he hoped to grow the boxing brand nationally. 

Last August, The BXNG Club announced its plan to open a fifth location, in the Los Angeles Arts District, a departure from its San Diego roots. While initially slated to open this past spring, the club has yet to open its doors and is now scheduled for a late summer opening, according to the website.  

Despite its financial woes, The BXNG Club is full steam ahead and doesn’t appear to be going down without a fight, advertising a boxing spar fest on August 3 at its Rancho Bernardo location.

The BXNG Club didn’t respond to a request for comment for this article.