True Fitness and True Yoga shut Singapore outlets as provisional liquidation begins

Current assessment: The available evidence supports reporting that True Fitness and True Yoga have ceased operations at their Singapore outlets after the companies entered provisional liquidation on September 10, 2026. The strongest available reporting attributes the move to resolutions by the companies’ directors that the businesses could not continue because of their liabilities. The closures affect the Singapore operations behind the True Fitness, TFX and Yoga Edition brands. ([channelnewsasia.com](https://www.channelnewsasia.com/singapore/true-fitness-true-yoga-liquidated-closed-6377486?utm_source=openai))

Reported facts: Channel NewsAsia reported on September 11 that the fitness and yoga centres would close as part of the liquidation process, and that the companies’ provisional liquidators had been appointed. The Business Times separately reported that all outlets had ceased operations with immediate effect, citing an internal employee email and the parent company’s announcement. The proposed Batam News Asia report, published September 14, describes the development as a shutdown amid mounting losses; that framing is broadly consistent with subsequent corroborating reporting, although its publication date is not the date the closures were reported to have begun.

Supporting evidence: Kontafarma China Holdings, the Hong Kong-listed parent, was reported to have said the Singapore fitness business recorded a loss of about HK$34.3 million for the year ended December 31, 2025, following revenue of about HK$181.2 million. For the first eight months of 2026, unaudited management accounts reportedly showed a further HK$19.1 million loss. Reporting based on the parent’s filing said the group faced increasingly fierce competition and rising costs of attracting customers. Those figures support the narrower conclusion that the Singapore business was under substantial financial pressure; they do not, by themselves, establish every operational reason for the shutdown. ([channelnewsasia.com](https://www.channelnewsasia.com/singapore/true-fitness-true-yoga-liquidated-closed-6377486?utm_source=openai))

Consumer exposure is also documented. CNA reported that, as of September 11, the Consumers Association of Singapore had received 241 complaints involving more than S$609,000 in reported losses from unused memberships, packages and services. This is a measure of consumer-reported losses, not a finding that those claims will be fully recoverable in liquidation. ([channelnewsasia.com](https://www.channelnewsasia.com/singapore/true-fitness-true-yoga-liquidated-closed-6377486?utm_source=openai))

Limitations and competing evidence: This review did not directly retrieve the September 10 Kontafarma exchange filing or inspect ACRA/BizFile records, even though established reports say those records identify the companies as being in liquidation or progressing toward creditors’ voluntary winding-up. The primary legal documents therefore remain the most important missing verification. In addition, “mounting losses” is supported by reported financial results, but the parent company’s cited competition and customer-acquisition costs are management explanations, not an independent determination of causation. The reported October meetings were prospective at the time of publication and should not be described as completed winding-up actions.

Current conclusion: A cautious reading is that this was a genuine, island-wide shutdown of True Singapore Group’s fitness and yoga operations, undertaken in connection with provisional liquidation after documented operating losses and significant liabilities. The evidence supports describing the outlets as closed and the companies as under provisional liquidation. It does not establish the eventual recovery available to members, employees or other creditors, nor does it independently prove that competition and acquisition costs were the decisive causes. Direct review of the parent-company filing and Singapore corporate records would materially strengthen the legal-status and financial-causation language.