UK-based PureGym has agreed to purchase struggling gym chain Blink Fitness out of bankruptcy for $105 million in a deal that would expand PureGym’s operations into the US.

PureGym will seek Delaware bankruptcy court approval to set an auction floor price to purchase Blink’s corporate operations and a “substantial portion of Blink’s locations, with a focus on New York and New Jersey,” the companies said in an announcement Tuesday. Blink, a low-priced fitness brand owned by luxury gym chain Equinox, is looking to finalize a Chapter 11 sale in November, according to court documents.

Blink operates 89 gym locations throughout …