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For Subscribers Star investigation

The Ford government touted Therme as a ‘world-class’ partner for Ontario Place. In Europe, ‘significant’ concerns have emerged over finances

The warning is included in previously unreported audits. Therme says it doesn’t reflect the strong financial footing of the global business.

Updated
7 min read
The Ford government touted Therme as a 'world-class' partner for Ontario Place. In Europe, 'significant' concerns have emerged over finances
For Subscribers Star investigation

The Ford government touted Therme as a ‘world-class’ partner for Ontario Place. In Europe, ‘significant’ concerns have emerged over finances

The warning is included in previously unreported audits. Therme says it doesn’t reflect the strong financial footing of the global business.


Updated
7 min read

In the years since the Ford government signed a lease with Therme for Ontario Place, a European auditor twice raised doubts about the financial health of the company behind the megaspa.

Therme Group RHTG AG, tasked with building wellness centres in ÎÚÑ»´«Ã½ and beyond, faced concerns including unresolved financing issues that made its future a “significant uncertainty,†the auditor warned.

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Ana Pereira

Ana Pereira is a business reporter for the Star, based in ÎÚÑ»´«Ã½. Reach her via email: anpereira@thestar.ca

Emma McIntosh

Emma McIntosh is a reporter on the ÎÚÑ»´«Ã½ Star’s investigative team. Reach her via email: emcintosh@thestar.ca

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