Nearly a month after overnight shutdown, 3,300 creditors file claims against Singapore gym chains True Fitness and True Yoga

Around 3,300 creditors have filed claims against the collapsed gym chains True Fitness and True Yoga, as their abrupt shutdown left members and employees in difficult circumstances.

The Companies have entered creditors' voluntary liquidation, with liquidators RSM Singapore appointed to oversee the process, including asset recovery and company wind-up.

The collapse, linked to existing financial difficulties, left substantial losses and liabilities, with affected parties encouraged to submit claims via the creditors' portal.

The Singapore operations, part of Kontafarma China Holdings, owed HK$309.7 million to the parent company, but recovery amounts remain uncertain.

SINGAPORE, Oct 8 — Around 3,300 creditors have lodged claims against collapsed gym chains True Fitness and True Yoga, nearly a month after the fitness group abruptly shut all seven of its Singapore outlets overnight, leaving members and employees in the lurch.

The scale of the fallout emerged today as appointed liquidators RSM Singapore confirmed that both companies had entered creditors’ voluntary liquidation following extraordinary general meetings held yesterday, The Straits Times reported.

The September 10 shutdown had caught employees and members by surprise, with staff reportedly receiving an email just an hour before the closures took effect.

Many turned up at the gyms the following morning only to find locked doors and repossession notices at the entrances.

The Consumers Association of Singapore subsequently reported receiving hundreds of complaints from affected members, whose losses from unused memberships, packages and services exceeded S$609,000 (RM2 million).

According to RSM Singapore, creditors at yesterday’s meetings confirmed the appointment of the liquidators and voted to establish a Committee of Inspection comprising up to five representatives to safeguard their interests during the winding-up process.

The liquidators will now oversee the recovery of assets and the winding up of the companies, while consulting the committee and other stakeholders.

Affected members, employees, vendors and other creditors can continue to submit new claims or amend existing ones through RSM Singapore’s creditors’ claims portal.

True Fitness and True Yoga operated under the True Singapore Group, which also ran the TFX and Yoga Edition fitness brands in the city-state.

The sudden collapse came amid mounting financial difficulties at the group, despite its continued revenue generation.

Its Hong Kong-listed parent company, Kontafarma China Holdings, had previously disclosed that the Singapore operations were burdened by substantial losses and net liabilities.

As of the end of August, the group owed its parent company HK$309.7 million.

It remains unclear how much creditors will ultimately recover through the liquidation process.

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大约有 3300 名债权人对倒闭的健身连锁店 True Fitness 和 True Yoga 提出了索赔，因为它们的突然关闭使会员和员工陷入了困境。

这些公司已进入债权人自愿清算程序，清算人 RSM Singapore 被指定负责监督该程序，包括资产回收和公司解散。

此次倒闭与原有的财务困难有关，造成了巨大的损失和债务，受影响各方被鼓励通过债权人门户网站提交索赔。

康泰制药中国控股有限公司旗下的新加坡业务部门欠母公司 3.097 亿港元，但追回金额仍不确定。

新加坡，10 月 8 日——健身连锁店 True Fitness 和 True Yoga 倒闭近一个月后，约 3300 名债权人已向其提出索赔。此前，该健身集团一夜之间突然关闭了其在新加坡的所有七家分店，令会员和员工陷入困境。

据《海峡时报》报道，今天，指定清算人 RSM Singapore 证实，在昨天举行的特别股东大会之后，两家公司均已进入债权人自愿清算程序，由此可见此次事件的严重程度。

9 月 10 日的停业让员工和会员措手不及，据报道，员工们在停业生效前一小时才收到电子邮件。

第二天早上，许多人来到健身房，却发现大门紧闭，门口贴着收回健身房的通知。

新加坡消费者协会随后报告称，收到了数百起受影响会员的投诉，这些会员因未使用的会员资格、套餐和服务而遭受的损失超过 609,000 新元（200 万令吉）。

据 RSM 新加坡公司称，债权人在昨天的会议上确认了清算人的任命，并投票决定成立一个由至多五名代表组成的监察委员会，以在清算过程中维护他们的利益。

清算人现在将监督资产回收和公司清算，同时与委员会和其他利益相关者进行磋商。

受影响的会员、员工、供应商和其他债权人可以通过 RSM 新加坡的债权人索赔门户网站继续提交新的索赔或修改现有的索赔。

True Fitness 和 True Yoga 均隶属于 True Singapore Group，该集团还在新加坡经营 TFX 和 Yoga Edition 健身品牌。

尽管该集团持续创造收入，但由于财务困难日益加剧，最终导致其突然倒闭。

其在香港上市的母公司康泰制药中国控股有限公司此前曾披露，新加坡业务受到巨额亏损和净负债的困扰。

截至8月底，该集团欠其母公司3.097亿港元。

目前尚不清楚债权人最终能通过清算程序收回多少款项。

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