Following the closure of California Fitness in Singapore, the company’s liquidators announced Thursday (July 21) that it is looking to sell off its gyms.
Recovery firm Ferrier Hodgson, the provisional liquidators for California Fitness, also asked members of the now-defunct gym to be “patient” while it addressed concerns.
Mr Tim Reid, a partner at Ferrier Hodgson, said that the firm has met with the landlords of the gym located in three places – Novena, Bugis and Republic Plaza.
He said: “We are fully cognisant of the concerns raised by members. Given the shortage of cash in the company when we were appointed, there are several steps that need to take place before we can tackle this issue.”
“A tripartite agreement will have to be reached between the landlord, provisional liquidator and purchaser. We may also need the approval of the Court,” he added.
Mr Reid also said that Ferrier Hodgson will shortly be posting information on a website to provide information to members.
On Wednesday (July 20), it was announced that all California Fitness outlets here have been closed until further notice.
This came after the chain closed all its outlets in Hong Kong last Tuesday (July 12).
stephluo@sph.com.sg
