SINGAPORE — Fitness chains True Fitness and True Yoga are set to close all their outlets in Singapore after the companies were placed under provisional liquidation, bringing an end to their operations in an increasingly competitive fitness market.
Their parent company said the Singapore businesses could no longer continue operating because of mounting liabilities, ongoing losses and significant financial pressure.
Fierce Competition and Rising Costs
The parent company cited increasingly fierce market competition and rising customer acquisition costs as major reasons behind the closure.
Traditional fitness chains have also faced growing competition from:
- Boutique gyms
- Condominium gym facilities
- Online fitness platforms
- Alternative exercise programmes
These changing consumer habits made it increasingly difficult for the Singapore operations to maintain their business.
Millions Lost Despite Additional Funding
The Singapore group continued to struggle financially despite receiving additional cash support.
For the full year of 2025, the business recorded revenue of approximately S$29.3 million but still suffered significant losses.
Unaudited figures for the first eight months of 2026 also showed that the losses continued.
By the end of August, the Singapore group had accumulated substantial net liabilities, putting the business under intense liquidity pressure.
Companies Now in Liquidation
Corporate records showed that both True Fitness Pte. Ltd. and True Yoga Pte. Ltd. were listed as being in liquidation through a creditors’ voluntary winding-up process.
The parent company said a structured and creditor-supervised liquidation was the best option for winding down the Singapore operations.
Provisional liquidators have already been appointed, while extraordinary general meetings are scheduled for October 7 to formally propose the creditors’ voluntary winding-up.
What Happens to Members?
The closure raises immediate questions for members who may have active memberships, prepaid packages or unused services.
Authorities and consumer groups are expected to provide further information as the liquidation process develops.
More details could also emerge regarding employees, creditors and customers affected by the sudden closure.
The Bottom Line
True Fitness and True Yoga are shutting down all their Singapore outlets after years of financial pressure, rising losses and increasingly intense competition.
The companies struggled to keep pace with changing fitness habits as consumers increasingly turned to boutique studios, residential gyms and online workout options.
For members and employees, the next major question is what happens during the liquidation process — and whether those with prepaid memberships or outstanding claims will be able to recover their money.
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