The_King Posted August 16, 2023 Share Posted August 16, 2023 GYM Alliance, which operates personal training gym Fenix Fitness, has been placed under provisional liquidation after abruptly shutting its outlet at Raffles Place. Gary Loh, Leow Quek Shiong and Seah Roh Lin of BDO Advisory have been appointed provisional liquidators of the company. A creditors’ meeting will be held on or before Sep 13. Around 400 provisional creditors – most of them gym members – are owed an estimated S$5 million in total based on latest accounts, Loh told The Business Times... https://www.businesstimes.com.sg/singapore/smes/another-gym-bites-dust-fenix-fitness-closes-abruptly-s5-million-owed-400-creditors 1 Link to comment Share on other sites More sharing options...
The_King Posted August 16, 2023 Author Share Posted August 16, 2023 1 Link to comment Share on other sites More sharing options...
socrates469bc Posted August 16, 2023 Share Posted August 16, 2023 18 minutes ago, The_King said: GYM Alliance, which operates personal training gym Fenix Fitness, has been placed under provisional liquidation after abruptly shutting its outlet at Raffles Place. Gary Loh, Leow Quek Shiong and Seah Roh Lin of BDO Advisory have been appointed provisional liquidators of the company. A creditors’ meeting will be held on or before Sep 13. Around 400 provisional creditors – most of them gym members – are owed an estimated S$5 million in total based on latest accounts, Loh told The Business Times... https://www.businesstimes.com.sg/singapore/smes/another-gym-bites-dust-fenix-fitness-closes-abruptly-s5-million-owed-400-creditors only kgks will do pre-payments. wahahahahahahahahahahahahahahahaha 1 Link to comment Share on other sites More sharing options...
Bigbird Posted August 16, 2023 Share Posted August 16, 2023 This seems to be the MO for these gym owners. Open gym, take loan, collect salary. File for closure. Repeat! Longevity is always base on ability to pay off the loan. 1 1 Link to comment Share on other sites More sharing options...
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