Fgis Posted May 19, 2012 Share Posted May 19, 2012 California wow fitness is closing these branches in Bangkok: Ratchayotin, Chaweng Wattana, Sukhumvit 23, Silom: News in Thai: http://www.thanonline.com/index.php?option=com_content&view=article&id=122729 Link to comment Share on other sites More sharing options...
wana Posted May 19, 2012 Share Posted May 19, 2012 must be no branches left open ,someone starts a thread like this every week Link to comment Share on other sites More sharing options...
PattayaParent Posted May 19, 2012 Share Posted May 19, 2012 They went bankrupt didn't they, it's what you'd expect. Link to comment Share on other sites More sharing options...
phl Posted May 19, 2012 Share Posted May 19, 2012 They went bankrupt didn't they, it's what you'd expect. they defaulted on the loan to BKK Bank and are being sued now, but not in bankruptcy as such. Link to comment Share on other sites More sharing options...
kowneawping Posted May 21, 2012 Share Posted May 21, 2012 They went bankrupt didn't they, it's what you'd expect. I just been to Paragon branch . It seem like they are adding more equipment... Didnt see any sign that they are bankrupt .. Link to comment Share on other sites More sharing options...
HardenedSoul Posted May 21, 2012 Share Posted May 21, 2012 They went bankrupt didn't they, it's what you'd expect. I just been to Paragon branch . It seem like they are adding more equipment... Didnt see any sign that they are bankrupt .. They're not bankrupt. The judge in the proceedings decided to allow the company to implement its "rehabilitation" plan which involves closing the loss-making branches mentioned in the OP. Those branches remaining open will be "upgraded" with a lick of paint and maybe some new machines. Members of closed branches will be offered extended memberships that allow them to use facilities at all the remaining sites. Of course, if you live or work close to one of the closing branches, it'll be a major inconvenience to get to a branch that may very well be miles away. Maybe they'll give refunds, maybe they won't. Link to comment Share on other sites More sharing options...
Ijustwannateach Posted May 21, 2012 Share Posted May 21, 2012 Give refunds with whose cash? This is the part where the 'corporate person' quietly dies an irresponsible death leaving the obligations unmet, while the actual current owners of the stock take a bath, and the original owner before the IPO laughs all the way to the bank. 1 Link to comment Share on other sites More sharing options...
HardenedSoul Posted May 21, 2012 Share Posted May 21, 2012 Give refunds with whose cash? This is the part where the 'corporate person' quietly dies an irresponsible death leaving the obligations unmet, while the actual current owners of the stock take a bath, and the original owner before the IPO laughs all the way to the bank. Well as i said, they haven't been made bankrupt. The fortunes of the stockholders are irrelevant in the context of the company's everyday cashflow from which refunds could be paid. Assuming the company has a mind to give them to customers who don't want to travel miles to the next nearest CaWow branch. Link to comment Share on other sites More sharing options...
farang000999 Posted May 21, 2012 Share Posted May 21, 2012 going to be interesting when the users of the "Silom" club invade the other branch. lol. 1 Link to comment Share on other sites More sharing options...
PattayaParent Posted May 22, 2012 Share Posted May 22, 2012 They went bankrupt didn't they, it's what you'd expect. I just been to Paragon branch . It seem like they are adding more equipment... Didnt see any sign that they are bankrupt .. Probably machines from the closed locations. Link to comment Share on other sites More sharing options...
californiabeachboy Posted May 22, 2012 Share Posted May 22, 2012 "rehabilitation" means that the executives can continue to pull money out until there is none left, then no more rehab. The problem with fitness centers, whether in Thailand or elsewhere, is that the business model is based on getting the money up front, thus the "lifetime memberships". Eventually, it will die. Link to comment Share on other sites More sharing options...
kowneawping Posted May 22, 2012 Share Posted May 22, 2012 "rehabilitation" means that the executives can continue to pull money out until there is none left, then no more rehab. The problem with fitness centers, whether in Thailand or elsewhere, is that the business model is based on getting the money up front, thus the "lifetime memberships". Eventually, it will die. Not sure about this case. In the end of the day, I think i am still paying less than other fitness firm in Thailand. Link to comment Share on other sites More sharing options...
PattayaParent Posted May 22, 2012 Share Posted May 22, 2012 Give refunds with whose cash? This is the part where the 'corporate person' quietly dies an irresponsible death leaving the obligations unmet, while the actual current owners of the stock take a bath, and the original owner before the IPO laughs all the way to the bank. Well as i said, they haven't been made bankrupt. The fortunes of the stockholders are irrelevant in the context of the company's everyday cashflow from which refunds could be paid. Assuming the company has a mind to give them to customers who don't want to travel miles to the next nearest CaWow branch. Give refunds with whose cash? This is the part where the 'corporate person' quietly dies an irresponsible death leaving the obligations unmet, while the actual current owners of the stock take a bath, and the original owner before the IPO laughs all the way to the bank. Well as i said, they haven't been made bankrupt. The fortunes of the stockholders are irrelevant in the context of the company's everyday cashflow from which refunds could be paid. Assuming the company has a mind to give them to customers who don't want to travel miles to the next nearest CaWow branch. Their cash flow is negative, hence the inability to pay their debt. There are likely to be other debtors of a higher degree than the 'members' if they are even considered as debtors at all. Link to comment Share on other sites More sharing options...
farang000999 Posted June 1, 2012 Share Posted June 1, 2012 so ekamai and asoke are both closed? paragon open still? Link to comment Share on other sites More sharing options...
arkom Posted June 1, 2012 Share Posted June 1, 2012 As of yesterday Changwattana was still open even tried to sell me a membership. Link to comment Share on other sites More sharing options...
Heng Posted June 1, 2012 Share Posted June 1, 2012 Well I've gotten my money's worth either way. Would be nice if they would open up a Fitness First here in Pattaya. Link to comment Share on other sites More sharing options...
phl Posted June 1, 2012 Share Posted June 1, 2012 Well I've gotten my money's worth either way. Would be nice if they would open up a Fitness First here in Pattaya. Fitness First is a total ripp off in my opinion, if anything, True fitness like the have one on Asoke( do not think its related to True company) Link to comment Share on other sites More sharing options...
kblaze Posted June 1, 2012 Share Posted June 1, 2012 ekkamai isn't closing so ekamai and asoke are both closed? paragon open still? Link to comment Share on other sites More sharing options...
farang000999 Posted June 1, 2012 Share Posted June 1, 2012 wife told me ekamai is closed when she drove by but she has been known to be wrong once or twice before. Link to comment Share on other sites More sharing options...
kblaze Posted June 1, 2012 Share Posted June 1, 2012 (edited) the bottom floor where they used to have another entrance is now closed, but they still have the top operating Edited June 1, 2012 by kblaze Link to comment Share on other sites More sharing options...
Heng Posted June 1, 2012 Share Posted June 1, 2012 Well I've gotten my money's worth either way. Would be nice if they would open up a Fitness First here in Pattaya. Fitness First is a total ripp off in my opinion, if anything, True fitness like the have one on Asoke( do not think its related to True company) Either or would be fine with me compared to CWow. :-) Link to comment Share on other sites More sharing options...
morphic Posted June 1, 2012 Share Posted June 1, 2012 Why do people pay to go to gyms and sign up for long contracts anyway? If I want to exercise I can go jogging for free, do press ups for free, do sit ups for free...seems crazy to pay, let alone sign up for a contract Link to comment Share on other sites More sharing options...
HardenedSoul Posted June 1, 2012 Share Posted June 1, 2012 Why do people pay to go to gyms and sign up for long contracts anyway? If I want to exercise I can go jogging for free, do press ups for free, do sit ups for free...seems crazy to pay, let alone sign up for a contract Because some people prefer gyms. Simple. Link to comment Share on other sites More sharing options...
xoxman Posted June 1, 2012 Share Posted June 1, 2012 Ekkamai is still open and looking for new members. When I passed by today I was approached to contract a "special promotion" membership Link to comment Share on other sites More sharing options...
Heng Posted June 2, 2012 Share Posted June 2, 2012 Why do people pay to go to gyms and sign up for long contracts anyway? If I want to exercise I can go jogging for free, do press ups for free, do sit ups for free...seems crazy to pay, let alone sign up for a contract I can pretty much do anything at home as well, my gym at home has better equipment than most membership gyms....., but it's in the same category as 'why do people go out to eat when the fridge and pantry is completely stocked?' Change of scenery, closer to wherever I might be going later, certainly don't want random friends or family showing up at my house to work out, etc. Link to comment Share on other sites More sharing options...
robblok Posted June 2, 2012 Share Posted June 2, 2012 Why do people pay to go to gyms and sign up for long contracts anyway? If I want to exercise I can go jogging for free, do press ups for free, do sit ups for free...seems crazy to pay, let alone sign up for a contract I can pretty much do anything at home as well, my gym at home has better equipment than most membership gyms....., but it's in the same category as 'why do people go out to eat when the fridge and pantry is completely stocked?' Change of scenery, closer to wherever I might be going later, certainly don't want random friends or family showing up at my house to work out, etc. I got a home gym too.. love it a lot. Just recently bought myself a concept 2 rower to add to the gym. Full gyms are better stocked still but with free weights and a few machines you can do a lot. I get the most out of it and it helps me not to miss too many sessions as traveling to a gym is a bit boring. Link to comment Share on other sites More sharing options...
danmarnj Posted June 2, 2012 Share Posted June 2, 2012 I was told at the silom branch that they will close on june 8 Link to comment Share on other sites More sharing options...
petedk Posted June 23, 2012 Share Posted June 23, 2012 (edited) I was told at the silom branch that they will close on june 8 It seems many of the branches will close down very soon. Ekamai, Esplanade, Pinklao and Pattaya were all closed today by Major because of non payment by California Wow. Not sure when they will open again. Edited June 23, 2012 by petedk Link to comment Share on other sites More sharing options...
Bender Posted June 23, 2012 Share Posted June 23, 2012 if True fitness can buy Cwow, it will be heaven on earth for gym addict. Link to comment Share on other sites More sharing options...
patongster Posted June 23, 2012 Share Posted June 23, 2012 I am always amazed how expensive the gyms are in Thailand, considering how much less the population earns. Link to comment Share on other sites More sharing options...
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