PE-owned Fitness First winds down in Hong Kong
Private equity-owned Fitness First has wound down its Hong Kong business, which accounts for eight out of approximately 90 centres in a network that extends into Southeast Asia, as pandemic-related restrictions took their toll.
In 2017, the Fitness First Hong Kong and Southeast Asia operation, then controlled by Oaktree Capital Management, merged with Celebrity Fitness, a 60-centre chain in Southeast Asia owned by Navis Capital...
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