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True Fitness, True Yoga’s liquidators received claims from over 3,000 creditors

True Fitness and True Yoga liquidators receive about 3,300 creditor claims after the chains were placed into voluntary liquidation. Read more at straitstimes.com.

The Straits TimesAlyssa Woo查看原文 ↗
The move comes after special resolutions were passed at extraordinary general meetings for both companies on Oct 7.
The move comes after special resolutions were passed at extraordinary general meetings for both companies on Oct 7.

The move comes after special resolutions were passed at extraordinary general meetings for both companies on Oct 7.

PHOTO: LIANHE ZAOBAO

Published Oct 08, 2026, 03:22 PM

Updated Oct 08, 2026, 04:42 PM

True Yoga and True Fitness liquidators have received claims from around 3,300 creditors after the firms entered creditors’ voluntary liquidation.

Creditors can continue to submit or revise their claims through the appointed liquidator RSM Singapore claims portal.

The True Singapore group shut all seven outlets here overnight on Sept 10, with many staff and members arriving at gym premises the next day only to find doors locked.

SINGAPORE – The liquidators for True Yoga and True Fitness have received claims from around 3,300 creditors, following the decision to place the fitness chains into creditors’ voluntary liquidation.

The move comes after special resolutions were passed at extraordinary general meetings for both companies on Oct 7, according to a media statement by appointed liquidators RSM Singapore issued on Oct 8. During meetings held on Oct 7, creditors confirmed the appointment of the liquidators and voted to form a Committee of Inspection (COI) comprising up to five members to represent stakeholder interests.

The liquidators will now focus on the “orderly administration of the companies’ affairs” and the recovery of assets. They will also consult with the COI and other key stakeholders throughout the winding-up process.

Creditors, including affected members, vendors and employees, can continue to submit or revise their claims through the RSM creditors’ claims portal . They can also contact the liquidators’ office via these e-mail addresses:

True Fitness Members: RF-TFitnessMembers@rsmsingapore.sg

True Yoga Members: RF-TYogaMembers@rsmsingapore.sg

True Fitness Vendors & Other Creditors: RF-TFitness@rsmsingapore.sg

True Yoga Employees, Vendors & Other Creditors: RF-TYoga@rsmsingapore

True Yoga and True Fitness come under the True Singapore Group, which also operated fitness and yoga centres TFX and Yoga Edition here.

The group abruptly shuttered all its seven outlets overnight on Sept 10, notifying employees via an e-mail sent just an hour before the shutdown took effect. Many staff and members arrived at the gym premises the following morning only to find the doors locked and repossession notices posted across entrances.

On Sept 11, the Consumers Association of Singapore said it had received hundreds of complaints from members, with losses exceeding $609,000 in unused memberships, packages and services.

The True Singapore Group has been under mounting financial strain, recording substantial losses and net liabilities, even as it continued to generate notable revenue, said its Hong Kong-listed parent company Kontafarma China Holdings. As at end-August, it owed Kontafarma HK$309.7 million (S$50.6 million).

Alyssa Woo is a business correspondent at The Straits Times. She writes about how retail and work spaces are used and evolve with the times, as well as personal finance stories for the Invest section.

Bankruptcy/Liquidation

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