Multiple gyms close across Australia as fitness empire rocked by liquidation
Besieged Australian fitness empire F45 has continued to close more of its branches across the country.At its peak, the iconic brand, which hosts 45-minute functional group workouts, was valued at $2 billion.However the brand has, since February this year, closed several branches across Australia with a handful more now added to the chopping block.Looking for F45, the iconic Australian fitness brand, has closed more of its branches across the country, with three branches in Victoria, NSW and Tasmania recently appointed liquidators. The brand, which hosts 45-minute functional group workouts, was valued at $2 billion at its peak. Since February this year, several branches across Australia have closed, including those in Sydney, Melbourne, and Tasmania. The closures come as F45-branded gym equipment continues to be sold on Facebook Marketplace for as little as $3 per kilogram. Despite initial plans for F45 to go public on the New York Stock Exchange, it eventually launched its IPO in July 2021 for a market valuation of $A2 billion.
Published : 2 years ago by Arthur Bolly in Lifestyle
Besieged Australian fitness empire F45 has continued to close more of its branches across the country.
At its peak, the iconic brand, which hosts 45-minute functional group workouts, was valued at $2 billion.
However the brand has, since February this year, closed several branches across Australia with a handful more now added to the chopping block.
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Three F45 branches across Victoria, NSW and Tasmania have recently appointed liquidators.
F45 Training Parramatta CBD in Sydney, F45 Training Bayswater North in Melbourne, and F45 Training Devonport in Tasmania are all set to close.
Earlier in the year, branches in Wollongong including in Bulli and Corrimal, as well as Zetland in Sydney, shut their doors.
Two Victorian branches were also closed, including those in Port Melbourne and South Yarra.
The closures and liquidations come as F45-branded gym equipment continues to be sold on Facebook Marketplace.
F45-branded gear can be found on Facebook marketplace for sale, with kettle bells, benches and dumbbells listed for as little as $3 per kilogram.
It’s a sad slide for a company which at its peak attracted the star power and financial backing of action movie veteran Mark Wahlberg to expand to more than 1750 gyms in 45 countries.
Despite the pandemic derailing initial plans for F45 to go public on the New York Stock Exchange, it eventually launched its IPO in July 2021 for a tidy market valuation of $A2 billion.
7NEWS.com.au has contacted several liquidators involved for further information.
Topics: Fitness, Australia