Offer for troubled Hong Kong gym chain California Fitness as debts hit HK$130m
Potential white knight, Muay Thai kick-boxing world champion Bryan To Hang-lam, lined up amid growing job fears for 500 staff of California Fitness
Troubled gym chain California Fitness is facing a debt mountain of HK$130 million as it struggles to find a buyer amid growing fears for the jobs of the 500 staff it employs across the city, it has emerged.
As the list of disgruntled clients among the 100,000 members of the gym chain and its sister outlets mYoga and Leap grows by the day, the Post can also reveal that a Muay Thai kick-boxing world champion is being lined up as a potential white knight.
It is understood that Bryan To Hang-lam, the founder of fitness chain Fight Factory Gym Martial Arts and Fitness Centre, is in talks with JV Fitness, which owns all three fitness titles. However, the longer the rescue attempt drags on, the greater the uncertainty over the future of both gym clients’ money and the jobs of staff.
Debts and legal liabilities continued to pile up for the chain, with at least four of its 12 outlets struggling to pay rent.