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Fitness First: Employees Fired / 8 Branches Closed

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  1. #21

    Join Date
    Sep 2015
    Posts
    463

    If you look at how Li&Fung is going and it’s past history you’d be worried about PF. used to be a HSI blue chip worth a lot now it’s hardly anything.

    Prof W.K. Pedia:
    On 13 February 2017, it was removed from the blue chip index: Hang Seng Index and replaced by Geely Auto.[3] Between 2011 and 2020, it lost 95% of its market value with its turnover almost halving.[4] The company was privatized in 2020. In 2020 the Fung family privatized the company with a 94 percent stock price loss (HKD 1.25) from its best performance back in 2011 (HKD 21.319)

    Last edited by Hkemail888; 23-10-2022 at 12:16 PM.

  2. #22

    Most recent news I could find on Pure. Would think it's not unexpected given restrictions, etc. It should be better now. Plus private equity isn't going to let a business go broke unless cost is greater than benefit.

    https://reorg.com/pure-group-lockdow...cial-pressure/


  3. #23

    Join Date
    Oct 2022
    Location
    西營盤
    Posts
    6

    Hong Kong is a small place… my friend overheard a discussion in french… one of pure’s director mentioned humongous cash issues… they need their main investor (some Canadian pension fund) to inject cash by end of year or they won’t be able to pay for the rent arrears…


  4. #24

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,971
    Quote Originally Posted by Hkemail888:
    If you look at how Li&Fung is going and it’s past history you’d be worried about PF. used to be a HSI blue chip worth a lot now it’s hardly anything.

    Prof W.K. Pedia:
    On 13 February 2017, it was removed from the blue chip index: Hang Seng Index and replaced by Geely Auto.[3] Between 2011 and 2020, it lost 95% of its market value with its turnover almost halving.[4] The company was privatized in 2020. In 2020 the Fung family privatized the company with a 94 percent stock price loss (HKD 1.25) from its best performance back in 2011 (HKD 21.319)
    Bruce Rokowitz .. no clue if he is still involved.

  5. #25

    To answer your question, no! No way you can get a refund etc.

    I say this from experience when EPIC closed down! I lost over 50K.. Feckers were selling discounted packages 2 days before winding down..

    however, I find this “my friend overheard” very HK like rumour.


  6. #26

    Join Date
    Jul 2021
    Posts
    223

    For crying out loud i still wonder why people prepay trns, if not hundreds of thousands of dollars with so many joints going bust.
    A chance to appear on TV I suppose


  7. #27

    Join Date
    Sep 2004
    Posts
    76

    Not the case with California Fitness and Goji Gyms. In both cases I got the substantial prepaid sums repaid by the credit card company within 6-8 weeks. So in answer to the OP, it is certainly possible to recoup monies, depending on the method of payment.


  8. #28

    Join Date
    Aug 2006
    Posts
    11,884
    Quote Originally Posted by calmathetic9:
    To answer your question, no! No way you can get a refund etc.

    I say this from experience when EPIC closed down! I lost over 50K.. Feckers were selling discounted packages 2 days before winding down..

    however, I find this “my friend overheard” very HK like rumour.
    TIL that someone can prepay 50K of gym services. W...T....F?

    I thought the recent poster buying something like 30K of PT sessions was already pushing some kind of sanity limit.

    Sorry for the way things turned out, just cannot fathom prepaying that much for exercise.

  9. #29

    Yes, a mistake but I was prepping for a fight and their trainers were world champs. It wasn’t a gym for everyone… cost wise!

    shri, Jamie1207 and jgl like this.

  10. #30

    Join Date
    Oct 2022
    Location
    西營盤
    Posts
    6

    Well… this is quite underwhelming, let’s see what’s going on by end of year, if they close then I guess I’ll just take my loss