The company VI Fitness is filing for bankruptcy and has shutdown all of it’s eight centres on the island.
Employees and members where informed of the news in an e-mail last night.
The statement says, “despite the company’s best efforts, the business model is no longer sustainable due to a competitive landscape.”
In March, The Vancouver Sun reported a nasty multi-million-dollar lawsuit within the company’s shareholders but none of that was proven in court and company didn’t mention it in the email to members.
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