Hong Kong’s consumer market continues to remain weak. In recent days, a well-known chain yoga center suddenly announced its closure, and the century-old Sincere Department Store is also closing its branch in Central.
The Hong Kong chain yoga center, Hotstone Yoga, notified its clients, employees, and creditors on September 30 that due to business operations and other practical reasons, it would officially close on October 1.
On October 2, several members complained to Hong Kong’s Ming Pao, alleging that the center was aggressively marketing package deals right before its closure, leading to suspicions of deliberate deception. Some members mentioned that they only found out about the closure the night before their class. A cleaner mentioned that they knew about the closure earlier but were told to keep quiet.
Other members noted that a couple of days before the closure, the branch suddenly removed credit card terminals and membership data, with no staff present, leaving behind basic yoga equipment like yoga balls and dumbbells.
According to reports from various Hong Kong media outlets, the brand had 7 branches in Hong Kong, and its sudden closure severely impacted many pre-paying members. By 9 p.m. on October 1, the victim group on messaging apps had over 900 members. Shared data revealed some had nearly 200 unattended classes, while others lost tens of thousands of Hong Kong dollars.
In response to inquiries from Sing Tao Headlines, the Consumer Council stated that as of 5 p.m. on the 2nd, they had received at least 286 related complaints totaling nearly HK$3.91 million.
Simultaneously, Sincere, the long-standing department store in Hong Kong, announced the closure of its Central branch. A notice was recently posted outside the branch indicating that due to the fourth quarter lease expiring this year, operations are tentatively scheduled to end by the year’s end.
Founded by overseas Chinese in 1900, Sincere was once one of the most iconic four Chinese-owned department stores in Hong Kong. At its peak, Sincere had up to 6 branches in Hong Kong. With the closure of the Central branch, only the Mong Kok branch at Kwong Wah Center in Kowloon will remain open.