VI Fitness files for bankruptcy

Workout locations across Greater Victoria closed permanently May 1

According to the company website, VI Fitness Centres Inc. filed for bankruptcy May 1 and permanently closed all its locations.

There are multiple across Greater Victoria.

“Despite the company’s best efforts, our business model was no longer sustainable due an increasingly competitive landscape,” the announcement says. “We can no longer afford to keep the business operating at a loss. We sincerely regret the impact our closure will have on our members, employees and business partners, and truly appreciate their support over the years.”

The website then refers patrons to contact the Bowra Group, an accounting firm in Vancouver and Edmonton.

Mario Mainella is a senior vice president at the Vancouver firm and one of the members involved in the VI Fitness file.

“It just wasn’t viable and they couldn’t operate anymore,” Mainella said. “The owner was funding the losses of the company. They made a decision. They didn’t think they could turn it around and didn’t want to continue funding out of their own pocket.”

Updates will follow.


 

cvanreeuwyk@oakbaynews.com

Like us on Facebook and follow us on Twitter.

Just Posted

B.C. storm totals $37M in insured damages

The December storm wreaked havoc on B.C.’s south coast

Miniature horses visit Glacier View residents

Glacier View Lodge residents had a couple of special visitors on Wednesday… Continue reading

Annual women’s march in Courtenay Saturday

The Women’s March was a worldwide protest on Jan. 21, 2017, to… Continue reading

Portables arrive for students on Hornby Island

Five portable classrooms have officially arrived on Hornby Island this week in… Continue reading

Cumberland multi-use development given the go-ahead despite parking concerns

Rideout Construction will pay $91,200 in lieu of 24 parking stalls

Trudeau says politicians shouldn’t prey on Canadians’ fears

The Prime Minister was speaking at a townhall in Ontario

B.C. chief says they didn’t give up rights for gas pipeline to be built

Hereditary chief: no elected band council or Crown authority has jurisdiction over Wet’suwet’en land

Thieves steal thousands from 140 Coast Capital Savings members

Online fraud tactics included phising and ‘brute force’ in November and December

Condo rental bans may be on way out with B.C. empty home tax

Many exemptions to tax, but annual declarations required

UPDATE: B.C. boy, aunt missing for three days

The pair are missing from Kamloops

Daredevil changes game plan to jump broken White Rock pier

Brooke Colby tells council daredevil event would help boost waterfront business

Liberal bows out of byelection after singling out Jagmeet Singh’s race

Karen Wang says she made comments online that referenced Singh’s cultural background

New space, new ideas, new location served up at Pizzeria Guerrilla

When Jason Uglanica got the keys to what was soon going to… Continue reading

Most Read