Corporate Fighter: Aussie fitness empire collapses causing customer chaos
A fitness company has gone bankrupt, canceled memberships and laid off all its staff.
Corporate Fighter said it ceased operations and laid off staff on May 8.
The Sydney-based company offered a ten-week boxing course for amateurs, usually those who work in the corporate world, which would culminate in a gala evening where boxers would compete against each other.
About 40 tables at each event would be sold for between $2,000 and $3,000, with a portion of the proceeds donated to charity.
The company was placed into administration last week, with Glenn Franklin and Jason Stone of restructuring firm PKF Melbourne taking the helm, ASIC documents show.
Corporate Fighter, which suddenly went bankrupt, has furloughed all its staff and canceled memberships
Sole director Josh King said at the start of this month that the boxing company had faced “financial challenges” and that he would liquidate the company in the coming weeks.
The next charity gala evening was scheduled for earlier this month, but Corporate Fighter sent their customers and clients an email informing them that they had been placed into administration before it could go ahead.
“I understand the impact this decision may have on you personally, your guests, our sponsors and supporters, and I sincerely apologize for any disruption this may cause to your plans and expectations,” Mr King wrote.
‘Unfortunately, this closure also means that all of our dedicated employees have been made redundant… We deeply regret any inconvenience this may cause them.’
One customer told me news.com.au he was scheduled to fight last Friday night and has lost $6,500 in the company’s collapse.
Another Brisbane client had to take Corporate Fighter to Fair Trading after his fight was repeatedly postponed.
He and 16 others had registered for the event in late 2022, but it was continually postponed until December the following year.
The fight was subsequently canceled just four days later.
The fitness company announced on its website that it has ‘discontinued’ as of May 8
“The seventeen of us had paid almost $80,000 in table purchases. You had a contractual obligation to purchase two tables. We each paid $5,000,” he told the publication.
“People had made arrangements for friends and family to come and watch along the highway.”
He claims that five members of the group have still not received their refunds.
Staff also claimed they were still owed final wages and unpaid pension.
The company launched in 2019 and previously described itself as a fun and challenging program for everyday businesses of all shapes, sizes and backgrounds.
It hosted numerous events including fight nights at major venues around Australia including the Hilton Hotel and Doltone House in Sydney, Newcastle’s Wests, Brisbane’s Royal International Convention Center and Melbourne Pavilion.
Daily Mail Australia has contacted Corporate Fighter for comment.
The Sydney-based company offered a ten-week boxing course for amateurs, usually those who work in the corporate world, which would culminate in a gala evening where boxers would compete against each other