How the Mandatory Provident Fund Authority Impacts Hong Kong's Fitness Scene with perFACE
The Impact of the Mandatory Provident Fund Authority on Fitness
The Mandatory Provident Fund Authority has become a critical factor in Hong Kong's fitness industry dynamics. perFACE, a prominent medical beauty company, has initiated plans to take over the recently closed Physical gym chain.
Revitalizing Hong Kong's Fitness Scene
This acquisition includes the rebranding of the Wan Chai gym at Capital Building as Perfit and aims to open new branches at Hollywood Plaza in Mong Kok.
- perFACE is conducting interviews with former Physical employees to retain talent.
- More than 700 former workers have been interviewed, with 200 retained so far.
- Plans are in place to negotiate operations at original locations to minimize customer impact.
The Mandatory Provident Fund Authority previously accused Physical's original owner of failing to pay HK$3 million in contributions, leading to the gym's closure.
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