A recently closed Hong Kong fitness chain has said one of its branches will reopen after a consensus was reached with a new investor.

Physical Health Centre announced the move affecting its Wan Chai gym on Saturday evening, a day after it said the chain would close temporarily following 38 years of operation. The earlier decision left the jobs of more than 700 people up in the air and triggered more than 170 complaints from angry customers to the Consumer Council.

A notice, which first began circulating on an unofficial social media group called “Victims of Physical Closure Concern Group”, appeared on the gym chain’s website with news of the reopening.

“The new company will operate under the ‘Healthy’ brand, and promises to provide free services for all remaining gym credits and personal trainer lessons of existing customers of Physical,” the notice said.

It did not disclose the name of the new investor, but said “the new company” would continue to liaise with property owners of previous Physical gym branches to rent out the existing premises for operation.