I’m a victim too, says ex-owner of California Fitness
Wong Ping-kuen claims he was lured into buying the embattled firm, without seeing all the facts
Underlying and pre-existing problems plagued the finances and sales tactics of ailing gym chain California Fitness months before its closure, a former owner said on Wednesday, claiming that he was the “ultimate victim”.
Speaking publicly for the first time since the gym chain’s ailing state came to light, former owner Wong Ping-kuen hit back at accusations and said he was duped into buying JV Fitness in December last year at a price of HK$50 million without seeing a key auditing document.
Only months after he bought JV Fitness – which also runs mYoga and Leap – did he find out about papers advising that the company was no longer fit to run, he said. Since the purchase, he has also pumped an extra HK$20 million into its 12 now-closed outlets across the city.
He said the situation was exacerbated by the chain’s notorious hard sell practices, inherited from past owners, so deep-rooted that he found them impossible to change.
They eventually got him and his wife arrested by customs officers in April.
“My wife could not sleep ... and we lost HK$70 million,” said Wong, who eventually decided to let go upon family’s advice. “I am indeed a victim.”
