Multiple gym chains in Ho Chi Minh City owe billions of dong in tax

According to a list of tax debts released by Tax Office No. 10 in Ho Chi Minh City, Citigym Investment and Service Development JSC (52 Thanh Thai Street, Hoa Hung Ward) owes more than VND7.53 billion ($290,000) in taxes, ranking seventh on the list.

Ranked 24th on the list is Getfit Gymnastics Sports Corporation (459 Su Van Hanh Street, Hoa Hung Ward) with an outstanding tax debt of VND2.4 billion ($92400).

Meanwhile, according to a list released by Tax Office No. 3, Fit 24 JSC (621 Hoang Sa Street, Xuan Hoa Ward) owes more than VND1.62 billion ($62,300) in taxes and is listed as no longer operating at its registered address.

Several other gym operators owe hundreds of millions of dong in taxes.

Heathy Kho Mon Group Co., Ltd. (79 Vu Tung Street, Gia Dinh Ward) owes more than VND401 million (US$15,400) to Tax Office No. 14.

Nugym Co., Ltd. (172B Tay Thanh Street, Tay Thanh Ward) owes more than VND186.7 million (US$7,200).

Both Kho Mon Group and Nugym are listed as no longer operating at their registered addresses.

Fit24 officially announced the closure of all its gyms in Ho Chi Minh City in late 2024, citing poor business performance, debts to partners and landlords, and unpaid salaries.

Getfit Gym & Yoga, meanwhile, underwent restructuring in September 2022 but was ultimately unable to survive and exited the market in February 2026.

Premium gym chains downsize 

The gym industry has recently been undergoing a tough shakeout, with several major names forced to close branches and scale back operations, while some brands have disappeared from the market altogether. 

On September 15, Citigym emailed members to announce that it would cease operations at its Vạan Hanh Mall and Dien Bien Phu branches in Ho Chi Minh City from October 1 as part of a system-wide restructuring. 

The premises housing the Dien Bien Phu branch were subsequently put up for lease.

However, Citigym recently announced that it would continue operating at both branches in response to customers' wishes.

Earlier, California Fitness & Yoga had closed four facilities, including two in Ho Chi Minh City and two in Hanoi, as part of its restructuring.

Premium gym chain Elite Fitness also gradually downsized and closed its last Ho Chi Minh City branch in June, officially ending the brand's presence in the city

Earlier, on August 12, Core Fitness & Yoga Co., Ltd., which owns the Core Fitness & Yoga chain, announced that it would suspend operations until further notice.

The company cited prolonged poor business performance, financial difficulties and an inability to continue operating.

Many customers were left stunned after paying tens of millions of dong for membership packages and attending only a few sessions before the gym shut down.

Heathy Kho Mon Group Co., Ltd. also unexpectedly closed both of its branches on No Trang Long and Tran Quang Khai streets in April, leaving many members worried after being unable to contact the gym to recover their prepaid fees.

The gym industry once enjoyed a golden period, with premium fitness chains opening one after another and expanding across Ho Chi Minh City with facilities covering thousands of square meters, high-end equipment, saunas, swimming pools and multiple fitness disciplines under one roof.

However, consumer behavior has changed rapidly since the COVID-19 pandemic, with many people switching to running, pickleball, badminton and cycling.

Many consumers have also tightened their budgets, opting for more affordable gyms that allow monthly payments instead of expensive membership packages.

With revenue declining while operating costs rise, premium gym chains have struggled to stay afloat, forcing them to either exit the market or scale back their operations.