Update To the Members of Method Fitness

re 2583350 Ontario Inc. operating as Method Fitness in Bankruptcy

The Trustee has been, and is, engaged with various parties in efforts to sell the gym to new owners who will honour the memberships in some meaningful manner. Whilst these efforts are proceeding, it is possible that a sale may not occur and the Trustee has to be prepared for that eventuality. Thus, the Trustee is operating a dual track 1) sell the gym, and 2) preparing for an auction if the gym cannot be sold.

Therefore, over the weekend and in the next few days, you may see and hear advertisements for an auction of the assets of Method Fitness which will take place next Thursday (March 21, 2019) at the gym location. The auction will proceed only if a sale is NOT agreed with new owners by the close of business on Wednesday evening. The Trustee wanted you to be aware that the advertisement of the auction does NOT mean a sale of the club has fallen through. We shall know the result of negotiations by Wednesday night, and providing that time permits on Wednesday evening, we shall post an update on the Trustee’s website.

Thank you for your patience.