The fitness center PHYSICAL Fitness & Beauty has issued a notice stating that it will temporarily close all locations on September 6, 2024, to restructure its business under increasing rent.
"The new investors have committed to continuing to provide all remaining fitness cards, personal training sessions, and beauty treatment services to PHYSICAL Fitness & Beauty's clients free of charge," it noted.
The notice also points out that the new company is actively negotiating with the owners of various group locations regarding arrangements to lease the original sites. Once an agreement is reached, the relevant stores will reopen immediately to provide services and urge customers to be patient.
The notice also states that PHYSICAL Fitness & Beauty has accompanied everyone through 38 years, witnessing the rise and fall of Hong Kong's economy, and, regrettably, it cannot accompany everyone to the end.
The Mandatory Provident Fund Schemes Authority (MPFA) stated in early September that, according to its records, PHYSICAL Fitness & Beauty has not made Mandatory Provident Fund (MPF) contributions and additional payments for approximately 740 employees for June and July, involving a total amount of about HK$3 million.
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