Fitness chain Physical temporarily shuts down

Fitness chain Physical temporarily shuts down

Physical, a fitness chain in Hong Kong has announced it will temporarily cease all its operations after 38 years in business.

The announcement on Friday came after the Mandatory Provident Fund Schemes Authority demanded the fitness chain settle about HK$3 million in outstanding contributions for 740 employees, also warning of legal action should the fitness gym fail to comply.

The fitness center said today that talks between a new investor and landlords to reopen existing branches are underway, with the new investor pledging to honor existing customers’ remaining membership, personal trainer courses and other services.

All branches will resume operations immediately after an agreement has been reached, it added.