True Fitness and True Yoga are set to close their Singapore operations, according to coverage of the shutdown announcement. The parent company says the Singapore business has continued to underperform despite receiving cash funding.
Outlets report that the company attributes the closure to ongoing competitive pressures and rising operating costs. The Straits Times also adds financial details, saying the True Singapore Group has recorded losses and net liabilities exceeding HK$400 million (S$64 million). Other reporting focuses less on specific balance-sheet figures and more on operational underperformance, indicating a broader challenge in sustaining the local business.
Overall, both accounts agree that the closure is driven by financial strain at the parent level and that the Singapore units were not able to return to profitable performance, leading to the decision to shutter the brands in Singapore.
