Tuesday, December 11, 2007
Alexander the Great Falls
Alexander Gym, of which I am a member, collapsed yesterday. Although I didn't have much to lose considering my contract was nearly finished, I'm sure a lot of people have been caught.
Personally, after the investors and employees have been paid, I doubt that members will get back any money.
I guess people didn't learn the lesson from the previous big closure of a high profile gym in Taipei 101. At that time, there was talk about limiting gym memberships to just 1 year at a time to prevent such disasters...
California Fitness must be laughing its way to the bank. If they were smart, they'd try to lure the former Alexander members over with some incentives.