In a hasty announcement made just after midnight on Wednesday (July 20), California Fitness declared that it has ceased all its gym operations in Singapore. Tim Reid and Theresa Ng of Ferrier Hodgson have been appointed as Provisional Liquidators of JV Fitness Pte Ltd, by the order of the High Court on Jul 19, 2016, the press release said.
JV Fitness is the owner of California Fitness branches located at Bugis, Raffles Place and Novena. The press release said:
“JV Fitness does not have adequate liquid resources to continue its operations and therefore all outlets in Singapore will be closed from today until further notice. The Provisional Liquidators will quickly explore options that may be available to enable the business to operate but for time being, it is necessary to cease the operations of the fitness centres with immediate effect.”
Last Saturday California Fitness Singapore announced the closure of its its Raffles Club. The closure sparked fear that the gym’s woes in Hong Kong will follow its members here in Singapore.
South China Morning Post reported that the gym operator owes an estimated $22.6 million in rent and other operating costs. Two of the company’s senior executives were arrested on Monday. Its sole director Wong Lunis is on the run and is wanted by Hong Kong’s Customs and Excise Department.