Okay, so this confirms everything I’ve been hearing so far, and the hunch I’ve had for the past few weeks. Shortage of staff, trainers, cleaners.. and my friends who weren’t getting their salaries on time…
Also, my recent post on a faulty website was referring to them as well. Nothing to hide now since the cat is out of the bag.
This is taken from last Friday’s The Star Online:
Friday August 1, 2008
Yoga club members can use vouchers to resume classes
By YIP YOKE TENGKUALA LUMPUR: Members of Yoga Zone and Yoga Club will be allowed to use vouchers to continue with their classes when the new management takes over.
The current management conceded that it was facing a financial crisis and as a result all 12 centres under the chain would be handed over to a new management.
Rumours that have been rife in the past months have caused worry to its members numbering about 20,000 nationwide. Notices put up four days ago stating that the outlets would be closed for a week for a restructuring exercise fuelled their concerns. The outlet at Jalan Klang Lama was even splashed with red paint.
In a meeting yesterday with a four-member committee tasked to safeguard members’ benefits, the management refused to refund the members or issue letters to banks to stop members’ credit card payments.
The annual membership is priced between RM688 and RM1,488 while life membership is fixed at RM3,500.
The committee was formed by Cheras MP Tan Kok Wai, who held a press conference with some 100 members at the centre in Taman Segar on Wednesday.
“The management has assured us that the vouchers should enable members to utilise their membership when the new management takes over,†said Tan.
He pledged to follow-up on the matter by requesting the management to put their terms in written form to protect the members, especially those who had signed up for life.
He added that instructors and employees had also agreed to resume normal activities if the management could settle their salaries for the month of May by Sunday evening.
So there you go. Yoga Zone, under the management of the founder - has gone bust! I’ve got 2 friends who were employees there - one of them, just like what was mentioned in the news writeup above, did not receive her salary for 2 months. Another, quit a couple of months ago when she sensed trouble.
There is even a huge billboard in the city of Klang where I live, where Yoga Zone promises to open a really huge health club under their ‘Y Fitness’ label - I guess that’s not gonna be happening now?
And just a few days ago, I bumped into my cousin at the Fitness First KBT Club, who joined Fitness First because the current Y Fitness health club in Klang (which belongs to Yoga Zone) - had shut down as well.
Although I do admire how ambitious they were in aggressively opening new health clubs and yoga centres at really convenient locations - it was only a matter of time before they were ’swallowed’ by the other giants. Not only that, I feel that they expanded way too quickly. Yoga isn’t as popular as ordinary exercise (not yet, here in Malaysia), so I feel that it really was a bit too ambitious for them to have expanded that quickly.
Here’s an old feature story on Yoga Zone (Yoga Zone Founder Makes Big Strides) way back from 2006 which is pretty sad to read considering what has happened to the club.
It is sad to hear the existing Yogazoe management has called it a day. Hopefully, the new management will bring the club, and members a new beginning. To those of you who really wanna get your fingers dirty into what’s going on, head over to this blog: http://www.yogajess.com/2008/07/15/peace-on-earth/.
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{ 12 comments… read them below or add one }
Yoga Zone one year membership FOR SALE!! Benefits:Ø 1 year membership Ø Original Price is RM 1188, can give good discount & price is negatiobleØ Unlimited usage for ALL wellbeing classes (Element, Flow, Bliss, Dynamic, Yin, Yoga Therapy, Hatha, Asthanga, Pilates, Yogilates, Hot, Chi Pilates, etc) Ø Usable at ONE Yoga Zone outlet only
§ Taman Desa
§ Plaza Damas
§ Cheras Plaza
§ Sri Petaling
§ Bdr Puteri Puchong
§ Bdr Bkt Tinggi Klang
§ Kepong
§ The Weld Please contact serra - ranita29_kaur@yahoo.com
Wah.. like that also can.
really salute the way the health club squeezing thier head to think all this type of attraction to get more members…SALUTE :)
I am one of the member who joined in June 08 and now still servicing the instalment payment of RM132++. I wonder how can I get back the money.Paying for nothing ..sob sob
Especially with the new management right now, I’m SCARED! This new management has already suck the YZ dry and now going for the members as well. Better beware you members out there. I’ve had my, don’t know who’s next.
I called to YZ hartamas yesterday and they told me they are no longer Yogazone. now is Urban Yoga. They said YZ member can come over for free until end of this month and next month onwards YZ can come but gotta pay RM88 per month. Urban Yoga has bought over Hartamas and Kepong outlet….i still remembered that the YZ founder, TJ has promised member’s right and benefits remained unchange after new management take over…http://thestar.com.my/news/story.asp?file=/2008/8/6/nation/22002120&sec=nation.
some of the YZ’s instructor now teaching in Urban Yoga …http://www.klyoga.com/2008/09/12/urban-yoga/
i m one of the victim pay for 1 year package and not yet go one also :
this is some info about this bad management:-
Company Name : THE YOGA ZONE GROUP SDN BHD 0680406-X
Registration Date : 02-02-2005
Registered Addr : STE 908,9TH FLR,MAGNUM PLAZA,128,JLN PUDU,KL
Business Addr : 30-1,JLN 2/109E,DESA BUSS PARK,TMN DESA,OFF JLN KLG
Object : THE BUSINESS OF YOGA & PILATES TRAINING CENTRE
Authorised Capital : 500,000 Paid-Up: 250,000
Remark :
Equity Appointed LC/IC NO BR/NEW IC NO
790622145124 CHIA FUI HONG
8057527 510922065004 TAN AH ENG
90.0% DS 02-02-2005 ->A3055310 750419145317 TJHIN CHEE KUNG
10.0% DS 20-03-2006 -> 630206075646 LIM LAY GAIK
7133975 630721106988 LIM CHEW FONG
A0953181 680310106073 LIM KEE HENG
31-03-2007
Fixed Assets (FA) : 5,355,521.00
Other Assets (OA) : 0.00
Current Assets(CA) : 1,490,225.00
Total Assets : 6,845,746.00
Current Liab (CL) : 4,988,742.00
Long-Term Liab(LTL) : 312,818.00
Total Liab (TL) : 5,301,560.00
Paid Up : 250,000.00
Share Prem/Reserves : 0.00
Rev & Other Reserves : 1,294,186.00
Networth(NW) : 1,544,186.00
Total(TL+NW+MI) : 6,845,746.00
Turnover : 15,447,934.00
Profit Before Tax : 1,539,047.00
Profit After Tax : 1,045,047.00
P/L for the Year : 1,045,047.00
FA/NW% : 346.8%
FA/(NW+LTL)% : 288.4%
(FA+OA)/NW% : 346.8%
Current Ratio CA/CL% : 29.9%
Working Capital : -3,498,517.0
Gearing TL/NW (Times): 3.4
how how how we r goin to get the refund????????????????????///update us via this forum.
hateyogazone,
no way u can get back the money. pls for further infor.
http://www.yogazone.com.my/
as written : 2. Refunds and Cancellation of Credit Card Installment payments
Please be advised that members’ claims for refunds are ranked unsecured and will be dealt with strictly pursuant to the relevant provisions of the Companies Act, 1965.
Based on our preliminary assessment, the proceeds from the realisation of the Company’s assets may not be sufficient to discharge the secured and priority creditors in full, which include the Inland Revenue Board and Employees Provident Fund. Accordingly, there would not be any funds available to meet the claims for refunds. Should the situation change during the receivership, you will be notified through this website accordingly.
hateyogasone,
Im also one of the victim tat just joined in June 08 and havent activate my member yet. u may find some infor in the link attached below;
http://www.yogajess.com/2008/09/19/the-fate-on-915/
http://yogalover88.blogspot.com/
Very sad but can’t do anything to get back my money. no more joining this type of club…
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