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

Local beekeeper wants residents to use pesticides more responsibly

Paula Masyk has kept bees for a little over two months, and has had two pesticide events since then

Sizzling season starts with Summer Fest celebrations in Chemainus

Rotary Club event features plenty of food, entertainment and a parade

Memorial Midget C Hockey Tournament supports Puska

Ladysmith man in need of a kidney transplant receiving abundant financial contributions

Poppy funds blossom at Chemainus Health Care Centre

Cowichan Legion Branch 53 makes a valuable contribution

Ladysmith Hill Dash and Running of the Balls return to High street

Ever year Ladysmith residents run High street to support the Ladysmith Resource Centre Association

PHOTOS: Elusive ‘ghost whale’ surfaces near Campbell River

Ecotourism operator captures images of the rare white orca

Victoria mom describes finding son ‘gone’ on first day of coroners inquest into overdose death

Resulting recommendations could change handling of youth records amidst the overdose crisis

Dash-cam video in trial of accused cop killer shows man with a gun

Footage is shown at trial of Oscar Arfmann, charged with killing Const. John Davidson of Abbotsford

Suicide confirmed in case of B.C. father who’d been missing for months

2018 disappearance sparked massive search for Ben Kilmer

Eight U.S. senators write to John Horgan over B.C. mining pollution

The dispute stems from Teck Resources’ coal mines in B.C.’s Elk Valley

Threats charge against Surrey’s Jaspal Atwal stayed

Atwal, 64, was at centre of controversy in 2018 over his attendance at prime minister’s reception in India

Anti-vaxxer Robert F. Kennedy Jr. to speak in Surrey

He’s keynote speaker at Surrey Environment and Business Awards luncheon by Surrey Board of Trade Sept. 17

Otters devour 150 trout at Kootenay hatchery

The hatchery has lost close to 150 fish in the past several months

B.C. church’s Pride flag defaced for second time in 12 days

Delta’s Ladner United Church says it will continue to fly the flag for Pride month

Most Read