Citygym Closes Ho Chi Minh City Gym After Eight Years
Citygym will close its Vạn Hạnh Mall gym in Ho Chi Minh City on November 10, 2026, citing changes in the fitness market and operating pressures. The company reported a loss in 2023 and owed employees social insurance contributions as of the end of September 2026.
Citygym (CTCP Đầu tư và Phát triển dịch vụ Citygym) has notified members that its Vạn Hạnh Mall gym in Ho Chi Minh City will cease operations on November 10, 2026, after eight years. The company said changes in the fitness market and operational difficulties prompted it to reallocate resources and cut costs. After the closure, Citygym will still have eight gyms operating in Ho Chi Minh City.
Citygym’s Vạn Hạnh Mall gym.（VietVance）
Some members whose training contracts cover only the Vạn Hạnh Mall gym will be automatically transferred to Citygym Thành Thái, about 2 km away. Their existing contract terms and benefits will remain unchanged. Members who trained regularly at the original gym between May 9 and November 9, 2026, will also receive a sports medicine consultation and treatment voucher worth VND 1.5 million. The company said it will use contract and check-in records to determine eligibility, with no separate application required.
The changes also affect class schedules. According to the November 9–15 schedule, group classes across Citygym’s network will be suspended for that week, while yoga classes at some gyms will be reduced. The company attributed the changes to difficulties arranging staff and running classes. Citygym announced in September 2026 that it would close the Vạn Hạnh Mall gym and other locations, then said a few days later that they would remain open. It has now decided again to close the Vạn Hạnh Mall gym.
A 2023 business document showed that Citygym’s net revenue reached VND 464 billion that year, up about 39.1% year on year. Gross profit was VND 164 billion, but selling and administrative expenses reached VND 191 billion, resulting in an after-tax loss of VND 28 billion. By the end of 2023, the company’s accumulated losses stood at VND 221 billion, leaving equity at approximately negative VND 191 billion.
According to information from Ho Chi Minh City’s social insurance agency, as of September 30, 2026, Citygym owed eight months of social insurance contributions for 246 employees, totaling nearly VND 8.2 billion. In its closure notice, the company said it would fulfill its responsibilities to affected employees and focus resources on maintaining and improving operations at its other gyms.
Source: VietVance
