SINGAPORE — California Fitness, one of the earliest fitness chains in the country, has ceased all of its operations in Singapore with immediate effect.
The announcement was made shortly after midnight on Wednesday local time, by Singapore High Court-appointed liquidators, Tim Reid and Theresa Ng of Ferrier Hodgson.
California Fitness is owned by JV Fitness, which was the second largest gym operator in Hong Kong until it shut down all of its outlets on Friday. It was reported that the company owed HK$130 million ($16.7 million) in rent and operational costs.
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Via: Mashable: Business