True Yoga Fitness Abruptly Closes After 20 Years, Leaving Thousands in Limbo
True Yoga Fitness, a popular fitness chain in Taiwan, has suddenly closed its operations after 20 years, leaving thousands of members and employees in limbo. The Taipei City Government's Department of Legal Affairs has received over 1,000 complaints and is urging members to seek their irs refunds for unused services.
The company, which operated 13 locations across Taiwan, announced its closure and initiated bankruptcy proceedings. It has over NT$210 million (US$6.88 million) in a trust account at Sunny Bank, which has been instructed to withhold the funds to prevent misuse. Consumer protection groups are considering a class-action lawsuit if refunds are not issued.
True Yoga Fitness apologized for the impact on members and business partners, stating that all debts and member-related matters will be handled legally. Members are advised to seek their wheres my refund by filing chargeback requests for credit card payments or applying to the court for a payment order if they paid in cash. The company cited long-term losses from the COVID-19 pandemic and a weakening economy as reasons for its unsustainable business.
The sudden closure of True Yoga Fitness has affected about 500 insured employees. Affected employees can apply for a certificate of 'employment separation' to claim unpaid wages or severance pay from the Wage Arrears Payment Fund. The Taipei City Government's Department of Legal Affairs continues to urge members to seek their planet fitness refunds.
