Vietnamese fitness startup WeFit, operated by parent company WeWow, has filed for bankruptcy and ceased all services as of May 2020. The company, which had previously raised $1 million in funding, was forced to shut down after completely depleting its working capital due to the severe financial impact of the COVID-19 pandemic. Before the crisis, WeFit's platform was processing around 150,000 monthly bookings, but the downturn ultimately left the business unsustainable.
