Singapore’s True Fitness, True Yoga to shut down amid fierce competition, mounting liabilities; members report S$609,000 losses

Singapore's fitness and yoga chains True Fitness and True Yoga are shutting down amid mounting liabilities and intense market competition, according to their Hong Kong parent company, Kontafarma China Holdings. The businesses were unable to continue due to liabilities, leading to the decision to wind them up. The Straits Times reported that members of the two chains had reported over S$609,000 in losses from unused memberships, packages, and services, with the consumer rights watchdog Consumers Association of Singapore (CASE) receiving 241 complaints by September 11.

The companies' parent group cited competition from boutique gyms, fitness apps, and online coaching, as well as the availability of gym facilities in more residential developments, as contributing factors to the challenges faced in the Singapore market. True Singapore Group reported a loss of HK$34.3 million on revenue of HK$181.2 million in 2025, with liabilities standing at HK$633.8 million against assets of HK$204.5 million.

Insolvency practitioners have been appointed as provisional liquidators, and creditors' voluntary winding-up proposals will be considered at extraordinary general meetings on October 7.

Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.