SINGAPORE — Affinity Yoga has permanently closed its two studios, the company’s founder and director Jeanne Chung announced in a Facebook post late on Tuesday.

However, Ms Chung sought to reassure its stranded customers by saying one investor has signed a letter of intent to take over the business and continue running the studios, as well as honour their memberships.

When Ms Chung spoke to this newspaper yesterday, she said she was in the midst of discussions with potential buyers. She declined to comment when asked to provide further details of the interested buyers.

Ms Chung said she was deeply regretful and heartbroken at the sudden demise of the 10-year-old company: “As a director, I feel that the company could have been managed better. There was room for improvement, not just for this year, but overall.”

Last week, the Consumers Association of Singapore (CASE) said it wrote a letter to Affinity Yoga, requesting it to refund the unused packages to the consumers.

When TODAY asked Ms Chung if she would be offering refunds, she declined to comment.

Actress Debra Teng expressed disappointment with the company. “I was still hoping that Jeanne would pull through, but now we are at a loss. While I would like to get a refund, I’m mentally prepared that if I do pursue the matter, chances (of a refund) are not good,” she said.

Ms Teng, who had spent more than S$1,000 on membership fees, said she would return as a customer if the studios reopened.

However, 46-year-old Celina Low, who is also a member, said the chances of her returning to Affinity Yoga are low, even if it reopened with a new management. She has filed reports with the police, CASE and the Small Claims Tribunal since the firm’s sudden closure more than two weeks ago.

“Has Singapore become a haven for irresponsible business owners? Isn’t anyone taking them to task?” she asked.