California Wow At Siam Paragon Closing In 2 Months Time

[beano2274]

Wife just let me know that she had heard from a friend at California WOW that the Paragon site is closing in 2 months time, she is upset as she has a lifetime membership.

Maybe other members have heard about it closing down as well.

[JakeBKK]

Take a look here: http://www.thaivisa....w-doors-closed/

Warning! discussion may seem to be testosterone and steroid fuelled

Edited July 24, 2012 by JakeBKK

[beano2274]

Take a look here: http://www.thaivisa....w-doors-closed/

Warning! discussion may seem to be testosterone and steroid fuelled

Thanks but that topic is about the branch in Pattaya

[differentbutsamesame]

I walked by Paragon california a few days ago and it was fully packed. I don't understand how they have gone bankrupt having so many paying members. The equipment is not of very high quality and it's not well maintained so that's not the biggest cost. Maybe it's all the discoballs and discolighting? Or maybe that asshol_e Eric Levine bought a few houses too many.

Another lie from California?

[Heng]

Anyone can mismanage cash flow.

[PaullyW]

I walked by Paragon california a few days ago and it was fully packed. I don't understand how they have gone bankrupt having so many paying members. The equipment is not of very high quality and it's not well maintained so that's not the biggest cost. Maybe it's all the discoballs and discolighting? Or maybe that asshol_e Eric Levine bought a few houses too many.

Another lie from California?

Or more likely the dumb @ss laws that require companies to employee poorly educated and largely useless Thais in massive numbers and the exorbitant rents charged by land owners who lease the land to companies and individuals.

[ricklev]

There were lots of problems, but the equipment isn't one of them. Excellent quality and selection. Equal or better than any chain gym in the US.

[Tywais]

Take a look here: http://www.thaivisa....w-doors-closed/

Warning! discussion may seem to be testosterone and steroid fuelled

Thanks but that topic is about the branch in Pattaya

How about this one then - CWOW Fitness closing many branches in Bangkok

[bonobo]

There were lots of problems, but the equipment isn't one of them. Excellent quality and selection. Equal or better than any chain gym in the US.

Agree.

I just took at look at my local Fitness First. While the place looked better than CW, the equipment was not up to CW's offerings, both in quality and in selection.

[doggie888888]

I walked by Paragon california a few days ago and it was fully packed. I don't understand how they have gone bankrupt having so many paying members. The equipment is not of very high quality and it's not well maintained so that's not the biggest cost. Maybe it's all the discoballs and discolighting? Or maybe that asshol_e Eric Levine bought a few houses too many.

Another lie from California?

More importantly, how easy is it for very slippery snake oil salesmen to list very flawed businesses? Raises questions of other SET listed companies. Beware future IPOs on the SET because it maybe another CAWOW in the making. A tad dramatic? Well, the SET (and the relevant regulator) isn't exactly forthcoming in exactly what they know or if there has been any fraud that caused the failure of the business.

[pitrevie]

A couple of years ago my friend told me he had been offered life membership and I warned him then that was the first sign of financial trouble.

[meand]

It is actually very amusing, unless I misunderstand something..... the one at Ekkamai I walk past all the time, and there is a sign basically saying the landlord is screwing them by turning off their power. So..... I am to assume they are being screwed by their landlord at every location. lol. It seems very easy to catch this "wow" company in a lie.... i mean if it is the landlord at that one location, why are all these other spots closing. Anyway...

Edited July 28, 2012 by meand

[maxme]

I walked by Paragon california a few days ago and it was fully packed. I don't understand how they have gone bankrupt having so many paying members. The equipment is not of very high quality and it's not well maintained so that's not the biggest cost. Maybe it's all the discoballs and discolighting? Or maybe that asshol_e Eric Levine bought a few houses too many.

Another lie from California?

Or more likely the dumb @ss laws that require companies to employee poorly educated and largely useless Thais in massive numbers and the exorbitant rents charged by land owners who lease the land to companies and individuals.

Thank the democrats for that but this is probably a case of mismanagment of cash flow.

Edited July 28, 2012 by maxme

[bonobo]

I paid about 8 or 9000 for my life membership in 2007, so i guess I got my money's worth. But as Pin Klao has been closed, I am finally starting to look around. I have a good gym I can go to for free on Sathorn, but that can be a 2 1/2 hour drive for me on a weekday after work, then another hour back home after.

I checked out the Fitness First at Bang Khae, but I was not impressed. There is a small gym neat major Pin Klao, but both times I went to check it out, they were closed. I could join my condo gym, but it really is pretty sparse equipment-wise

CaliWow was never the best, but it was somewhat convenient and had good equipment. I guess I have to get more serious in finding a replacement.

[kyb789]

I paid about 8 or 9000 for my life membership in 2007, so i guess I got my money's worth.

Exacly. So what are you all complaning about? Try another gym for the value at this price.]

[IMA_FARANG]

More than 50% of all new business either close or have major financial problems in the first few years after they open.

What usually happens is that they open....and business seems good. Lots of customers.

So they start expanding...opening more branches and new locations.

The banks lend them money for this purpose....which must of course be repayed with interest.

At first it's all good news...but they get overextnded. Just TOO MANY new branches being opened without enough new customers.

Then they start offering "bargains" at a "special price" to raise some quick money "in the short term" to meet financial obligations.

Like someone else said...offering "lifetime memberships"....especially at bargain rates....is a dead giveaway that they need immediate CASH to pay the bills soon coming due.

But without proper cash flow management it;s just like popping speed to keep going....in the long run you're going to crash unless you get off the fast track.

Sometimes such firms survive, but often they don't.

From what I hear the management of Califonia Wow owes major debt to some Thai banks....and now it's time for them to pay the bills.

All their fancy lights and rock music speaker systems won't pay the interest on that money they borrowed.

If they do survive, expect it to be at the cost of closures at marginal locations. It's paying customers they need...not new fancy locations that aren't making a healthy profit.

And, frankly, "fitness" is a niche product....with a definate limit to it's customer base.

When you buy one LIFETIME membership...why are you going to ever need another LIFETIME membership?

[meand]

^And assuming what you say is true, why don't they tell people they are broke/can't pay bills instead of putting up signs reading that their landlord is screwing them by turning off the power? It just reeks, that's all, but yes nice post, I think you nailed it for the most part.

[bonobo]

I paid about 8 or 9000 for my life membership in 2007, so i guess I got my money's worth.

Exacly. So what are you all complaning about? Try another gym for the value at this price.]

What an odd interpretation in my words. From my phrase that I got my money's worth, I wouldn't take that as a complaint.

If I had a complaint, per se, then it would be in the second paragraph in that I haven't found a good replacement et.

[trajan]

almost all comments off topic...

again...any word on Siam Paragon branch closing in 2 months? (this appears to be the last branch in Bangkok--save the one on Sukhumvit 23 which is now wrapping up in a week or so)

[EDBANGKOK]

I just returned from Siam Paragon. California Wow is closed permanently. I just met 3 California Wow trainers who have confirmed this info.

[Numerounos]

Sukhumvit 23 was closed yesterday even though they said they would stay open till 7th.

So just to confirm it appears there are no longer any CAWOW branches open in BKK?

[hhgz]

"So just to confirm it appears there are no longer any CAWOW branches open in BKK?"

That is correct.

[ricklev]

Can anyone confirm that Cal Wow Paragon is closed today, Sunday?

The use of the word "branches" still makes it unclear to me.

[meand]

Can anyone confirm that Cal Wow Paragon is closed today, Sunday?

The use of the word "branches" still makes it unclear to me.

It is Friday today, but I was there yesterday and it was closed. So yes, I guess Sunday it will be closed too.

[ricklev]

Today is Friday. Good point. Well played.

Holiday yesterday confused me. Guess that means I have to get out of bed.

Well that's that then.

Wonder how Chiang Mai is doing? Maybe they have a different ownership structure.

Edited August 3, 2012 by ricklev

[Ludacris]

I can confirm Cal Wow at paragon is closed again today.

They said they might open again at 4pm but I walked by and 4:30pm and nothing had changed. Lots of women standing around outside who showed up for aerobics. The excuse was closed for the holiday, but they NEVER close for holidays, especially without announcing it beforehand.

I've always said that the company may be able to hold on as long as the paragon branch stays open, but now I have to say Cal Wow is finished.

Rumors of employees not being paid for over 3 months, electric bills not being paid, no air con, shutting down some equipment part of the day, stopping the towel service, etc. All signs of a company having problems with money.

The company is done. Luckily I got over 5 years out of my lifetime membership so I can't complain.

[ricklev]

Paragon open today. Go figure.

[Gaccha]

Paragon open today. Go figure.

That beautifully intensifies the tragi-comic narrative. They'll be a made-for-TV movie about it one day. Thai visa TV, that is, with Blether starring as the fallen hero. Never forget, you'll be able to dine off this bankruptcy for years to come. You'll make your membership budget back without even pursuing Levine to the Congo.

[theblether]

I'm quite used to playing the part of the fallen hero.......in fact I'm stereotyped

[petedk]

My friend has just been to Cw at Siam Paragon and she told me that they were handing out leaflets saying that anyone who paid over 40,000 baht for lifetime membership will be able to continue using Cw for free. Anyone who paid less would have to pay 600 baht (I think she said) per month.

Can anyone confirm?