High Court orders liquidation of company behind Physical Health Centre in Tsim Sha Tsui

The High Court on Wednesday mandated the winding up of Physical Health Centre (TST) Limited, a subsidiary of the now-defunct gym chain Physical, following a liquidation petition filed by Link Asset Management Limited, a property management company. 

The order was issued after the subsidiary's representative failed to attend the hearing.

Master Maurice Lam Chak-ming delivered the ruling based on the tenancy agreement, but details surrounding the case remain undisclosed, as the liquidation petition documents are currently not available for public viewing.

Since Physical's closure in September of last year, its branches in Shatin Citylink Plaza and Kowloon Bay Telford Plaza have faced claims from landlords totaling over HK$7 million in unpaid fees, which include rent, interest, and management charges. 

Also, the Mandatory Provident Fund Schemes Authority is pursuing over HK$3.37 million from Physical, citing three months of unpaid pension fund contributions and related fees for about 740 employees.

(Jamie Liu)