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SNFW Fitness B.C. Ltd.
SNFW Fitness B.C. Ltd. (the “Company” or “SNFW”) operates 27 fitness facilities located in the Lower Mainland and on Vancouver Island.
SNFW fitness facilities are doing business as “Steve Nash Fitness World and Sport Club”, and under “UFC Gym”.
SNFW offers fitness facilities for personal use, fitness group classes, personal training and, in certain locations, mixed martial arts training.
On April 3, 2020 the Company filed a Notice of Intention to make a Proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act.
On April 24, 2020, the Supreme Court of British Columbia granted an order approving the sale process for the solicitation of offers for the sale of the assets and undertakings of SNFW Fitness B.C. Ltd. A copy of the Sale Process Order is available in the Court Documents section below.
The Bowra Group Inc. engaged MNP Corporate Finance to commence the Sales Process.
The deadline to determine a successful bidder was May 29, 2020. On May 27, 2020, The Bowra Group Inc. extended the time to select a successful bidder to June 5, 2020.
On June 17, 2020, the Supreme Court of British Columbia granted an order that extended the stay of proceedings to August 3, 2020.
The application for the approval of the sale of the assets of the Company was before the Supreme Court of British Columbia on July 23, 2020. A copy of the Notice of Application and the Trustee’s Third Report to Court can be found under the Court Documents section.
On July 23, the sale of the assets of the Company to FW Fitness B.C. Ltd. was approved by the Supreme Court of British Columbia. A copy of the Court Order approving the sale can be found under the Court Documents section.
The Company did not make a Proposal to its creditors or seek a further extension of time to make a Proposal by August 3, 2020 and as a result the Company was deemed bankrupt on August 4, 2020.
First Meeting of Creditors:
The First Meeting of Creditors is scheduled to be held on August 20, 2020 at 1:30 pm (PST). Due to Covid-19, the meeting will be held via conference call. Conference call in details can be obtained upon request to Trustee’s office and submitting a completed Proof of Claim.
On June 16, 2020 It was announced that a group of investors has acquired the rights to Steve Nash Fitness World & Sports Clubs.
The new ownership team has already made a commitment to honour all service agreements, whether they were pre-paid memberships or personal training services, as they understand that was a big question for many. Monthly dues will also be honoured and remain the same as the clubs re-open.
For more information please see below for the press release:
The Wage Earner Protection Program (WEPP) compensates eligible workers for unpaid wages, vacation, severance or termination pay, earned or entitled to in the last six months before their employer declares bankruptcy or becomes subject to a receivership under the Bankruptcy and Insolvency Act.
Service Canada will make payments on accepted WEPP claims up to a maximum of seven weeks insurable earnings under the Employment Insurance Act ($7,296.17 for 2020).
In order to obtain your personal WEPP information package please send an email to email@example.com with the following information:
I. First and Last Name
II. Job title and Location worked at
III. Employee 5 (five) digit number, if available