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The encyclopedia · Strategy & Leadership · Strategic decision · 2005–2025

True Yoga ran 20 years in Taiwan, then shut 13 branches overnight, stranding members' fees

TRUE YOGA, in Taiwan since 2005 with 13 branches and 60,000+ members, announced closure at night on 30 Sep 2025, stopped the next day and entered bankruptcy.

TRUE YOGA FITNESS · 全真概念健康事業股份有限公司 · 2025-10-01

What happened

TRUE YOGA FITNESS was founded in Singapore in 2004 and entered Taiwan in 2005, registered as 全真概念健康事業股份有限公司, opening its first club in Taipei's Xinyi district. It grew into a badge brand for premium yoga and fitness, at one point running 13 branches with more than 60,000 members across the island.

On 24 September 2025 the chain suddenly announced that six clubs in Taipei, New Taipei and Taoyuan would pause operations, citing internal operations and staffing adjustments still being coordinated — a move members read as a warning sign and compared to the collapse of the earlier Alexander fitness chain.

Late on 30 September the company posted a public letter announcing that from 1 October it would stop all business and begin bankruptcy liquidation, citing sustained losses beyond what it could absorb after the pandemic and a difficult market environment. More than 40,000 members were told they could not get their prepaid fees back.

The fallout spread quickly: employees said they had not received their salaries, vendors reported being owed more than NT$20 million, and a victims' support group grew past 3,500 members. The company's agent was reported to have left Taiwan roughly five years earlier and had not returned, complicating any attempt at recourse.

Why it happened

  • A prepaid membership model stored years of customers' money in the company, so bankruptcy turned those fees into unrecoverable losses
  • Long-running losses after the pandemic were carried until cash ran out, and the business closed with no notice rather than a managed wind-down
  • The operator's representative had already left the country, so there was no accountable party left in Taiwan to answer members or creditors
What it cost13 branches closed; 40,000+ members lost prepaid feescostly

The lesson

A prepaid business is borrowing customers' money — TRUE YOGA held years of members' fees, closed overnight, and with its agent already abroad members were left with no balance and no recourse.

Aftermath

TRUE YOGA stopped all Taiwan operations on 1 October 2025 and entered bankruptcy liquidation. More than 40,000 members faced losing prepaid fees, employees reported unpaid wages, and vendors were owed over NT$20 million. Regulators in several cities collected thousands of complaints, and the company's agent remained outside Taiwan, leaving member refunds unresolved.

Sources

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