The women's Fitness Training Network "Studio C" is asking the Jerusalem District Court to order its dissolution

The "Women's Fitness Training Network" Studio C "is asking the Jerusalem District Court to order its dissolution, and the network has submitted a request to the court to issue an order to open proceedings in its case.
The request shows that the chain, which employs 237 workers, has accumulated debts of about NIS 3 million, after being fatally damaged since the outbreak of the corona virus. According to the chain, following the crisis that forced it to repeatedly close its branches, it was forced to return NIS 9.5 million to its customers in recent months, due to cancellations of subscriptions and various refunds.
According to the chain, these losses, along with its high rental expenses on the 26 properties it rents, have overwhelmed it. "It is not possible to continue operating the company in its current format," the lawyers, Asher Axelard, Yehuda Spaz and Emanuel Shalmon, claim in the power of attorney of the network.
Attached to the application was an affidavit by Arie Nitzan, one of the company's owners, stating that "Studio C's total liabilities significantly exceed its total revenues and there is no expectation of an increase in revenues.
The network's current shareholders are the Marketing and Organizational Consulting Company (2010), the Advocacy Consulting Company and the Halamish Properties and Investments Company, which holds only 5% of the company's share capital.
"The shareholders of the chain who acquired it from its previous owners only in November 2019 did everything in their power to rehabilitate the company from the heavy damages caused to it," it was alleged in the application, but these were to no avail. "The court is asked to initiate freezing or liquidation proceedings against the network, so that the balance of its assets will be divided among its creditors, and the company will be liquidated."