[SINGAPORE] Boutique holistic wellness player Trapeze Rec Club, one of the earlier entrants to the Republic\u2019s growing wellness space, will shut after five years. <\/p>\n
The club will have its last day of operations on Mar 22, with personal training sessions to run until then.<\/p>\n
In a statement posted on Instagram on Tuesday (Mar 3), owner Grant Wee said that the club\u2019s upcoming lease renewal prompted the team to take \u201ca hard look\u201d at its future. \u201cWith rising costs, it was not going to be sustainable to continue at our current location,\u201d he added.<\/p>\n
Grant Wee is the youngest of UOB chief executive officer Wee Ee Cheong\u2019s children. <\/p>\n
Trapeze Rec Club occupies four storeys of a shophouse at Tanjong Pagar, spanning 8,000 square feet. It houses facilities such as a martial arts gym, yoga studio, gymnasium and cafe.<\/p>\n
In the post, Grant Wee thanked Trapeze Rec Club\u2019s coaches for staying by the club\u2019s side despite \u201cmany difficult conversations and uncertainties\u201d, and for exploring \u201cevery possible way\u201d to keep the business going. <\/p>\n
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\u201cIn the end, however, even the best options still weren\u2019t viable. The decision ultimately rested on me to make the tough call not to move forward,\u201d he said. <\/p>\n
He noted that the club\u2019s first priority has been reaching out individually to members and processing their refunds, as well as supporting its coaches. <\/p>\n
He said that the club will be in touch with its suppliers, vendors and partners.<\/p>\n