SHANGHAI -- A private equity-backed gym operator in China is in crisis after a cash crunch prompted a wave of store closures, underscoring consumers' weak appetite for nonessential spending.
Companies
Chinese gym chain hit by branch closures in sign of economic strain
Members of private equity-backed WiIl's left in limbo
A shuttered Will's Group gym in Shanghai has tape on the doors and signs explaining its sudden closure. (Photo by Wataru Suzuki)
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