TORONTO, Feb. 9, 2012 /CNW/ - BDO Canada Limited has been appointed by
the Ontario Superior Court of Justice (the "Court") as the receiver
(the "Receiver") of the assets, properties and undertakings of Premier
Fitness Clubs Inc. and related and other companies (the "Premier
Companies") pursuant to an Order of the Court dated February 7, 2012
(the "Receivership Order").
The Receivership Order authorizes the Receiver to enter into an
agreement with PM Management Systems Inc., ("Physiomed") to manage and
operate the business of the Premier Companies. The Receiver has entered
into such an agreement with Physiomed.
"As the court appointed Receiver, our goal is to continue operations,"
said Mark Chow, Senior Vice President, BDO Canada Limited.
The next court hearing has been scheduled for February 16. The Receiver
expects to file a report with the Court prior to that hearing.
BDO Canada (www.bdo.ca) is the country's fifth largest single national accounting and advisory
partnership, with more than 3,000 partners and professionals.
SOURCE BDO Canada LLP
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