[REVISION HISTORY]

California Fitness & Yoga restructuring and financial crisis

5 recorded revisions of this situation.

What changed

2026-11-03 05:01 UTC → 2026-11-07 03:05 UTC · added ~~removed~~

California Fitness & Yoga continues its restructuring process in Vietnam, which the company maintains is intended to stabilize the system rather than signal bankruptcy. However, the company is facing escalating operational and financial difficulties. Operational changes include the implementation of a 20,000 VND fee for specific GroupX and Yoga classes nationwide, effective October 12, 2026, applicable to all membership tiers. The company’s physical footprint has contracted significantly. While the company previously operated approximately 35 clubs, as of November 3, 2024, most locations have suspended operations for operational adjustments, leaving only the Binh Duong Square club active. Specific closures include Landmark 81, Cali Tower, and Gigamall in Ho Chi Minh City, as well as Hang Da and 88 Lang Ha in Hanoi. Although the company scheduled the reopening of Lapen Center Vung Tau and Pegasus Plaza Bien Hoa for November 5, 2024, other facilities remain closed despite previous deadlines. Some clients have reported significant financial exposure, including one member in Hanoi who spent approximately 220 to 230 million VND on a seven-year membership and over 120 personal training sessions, with several years and dozens of sessions still remaining. Customers are currently seeking clarity on how the company will handle contract extensions, transfers, or refunds. ~~Affected members have been instructed to scan QR codes to request free membership freezes, though no clear timeline for reopening most sites has been provided.~~ New reports indicate severe financial distress. Personal trainers have stated they have not received salaries or commissions for three to four months. Furthermore, data from the Ho Chi Minh City Social Insurance agency reveals the company failed to pay social, health, and unemployment insurance for 416 employees, totaling more than 9 billion VND in overdue payments through September 2026. In response to widespread complaints regarding service cuts and suspended locations, the National Competition Commission, under Vietnam's Ministry of Industry and Trade, has issued guidance to members regarding contract disputes.

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