High Court Orders Liquidation of 3 Physical Fitness Chain Units
SingTao · 3 SOURCESabout 3 hours ago2 MIN
Summary
The High Court on September 9, 2026 ordered the immediate liquidation of three companies associated with Physical, a prominent Hong Kong chain fitness and beauty centre that abruptly closed all its branches in September 2024 after 38 years in business. Master Wong Kin-tong granted the winding-up petitions filed on May 11, 2026, by a subsidiary already under liquidation, citing that all liquidation documents were in order and no objections were raised .
Key Points
- The three companies ordered into liquidation are Physical Health Centre (Tsuen Wan) Limited, Physical Health Centre (Elizabeth House) Limited, and Physical Beauty Centre (Yuen Long) Limited .
- Five additional Physical-related companies were ordered into liquidation last month, bringing the total to eight companies facing liquidation proceedings .
- The court had previously ruled in January that Physical owed 374 employees approximately HK$74 million in unpaid wages, while asset sales of fitness and beauty equipment yielded only HK$15 million .
- The petitions were filed by creditor Physical Health Centre Hong Kong Limited, itself a company already under liquidation .
- Case numbers assigned are HCCW346/2026, HCCW347/2026, and HCCW348/2026 .
Why It Matters
This liquidation process marks another step in the unwinding of Physical's corporate structure, which left thousands of members and employees without recourse when operations ceased. The gap between the HK$74 million owed to staff and the HK$15 million recovered from asset sales underscores the financial scale of the collapse and suggests creditors will face significant losses .
This liquidation process marks another step in the unwinding of Physical's corporate structure, which left thousands of members and employees without recourse when operations ceased. The gap between the HK$74 million owed to staff and the HK$15 million recovered from asset sales underscores the financial scale of the collapse and suggests creditors will face significant losses .