Another gym bites the dust; Fenix Fitness closes abruptly, with S$5 million owed to 400 creditors
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Paige Lim
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 (BT).
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