The provisional liquidation came into effect from Sept 10, according to a closure notice posted on their mobile app. “All clubs’ operations will cease with immediate effect,” it said.

Records filed with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) show the businesses have also entered creditors’ voluntary liquidation. The two companies are owned by True Yoga Holdings Pte Ltd.

The latest shutdowns underscore the pressure on Singapore’s fitness industry, where high rents, rising costs and tough competition have forced several operators to close. Ritual Gym, UFC Gym and Fenix Fitness are among those that have exited over the past few years.

True Fitness and True Yoga had been losing money for years before the closures, ACRA filings showed. True Yoga had accumulated losses of about S$82.8 million (US$65.3 million) at the end of 2025, while True Fitness had about S$13.5 million. 

As recently as a few months ago, both businesses were still marketing memberships that ran for several years, including packages covering access to their gyms, fitness classes, yoga and reformer sessions. Some plans stretched beyond five years, after which members were offered lifetime access for S$49 a month.

The memberships covered access across the network. True Fitness has gyms at Novena Square, Tampines Junction and Ang Mo Kio, while its TFX brand operates clubs at Millenia Walk, CIMB Plaza and Funan mall.

Uploaded by Liza Shireen Koshy