Update To the Members of Method Fitness March 18 2019

re 2583350 Ontario Inc. operating as Method Fitness in Bankruptcy

The Trustee is engaged with parties to negotiate selling the gym to new owners who will honour the memberships in some meaningful manner. As noted previously, whilst these efforts are proceeding, the Trustee is operating a dual track and has also prepared for an auction in the event that the gym cannot be sold.

The auction will proceed only if a sale is NOT agreed with new owners by the close of business on Wednesday evening, but in the meantime the auctioneers have opened on-line bidding and the links are attached below. The Trustee reiterates 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. However, should a sale not occur, then you may wish to bid on the assets via the links below.

https://bid.clubbid.com/auction/toronto-on-march-21-method-fitness-unreserved-timed-online-short-notice-bankruptcy-auction-163