Fitness empire F45 suffers another blow with the closure of a popular inner-city gym
The F45 chain has suffered another blow with the closure of a popular inner-city Sydney gym.
Chray Fitness Pty Ltd, trading as F45 Surry Hills, went into administration on Wednesday.
The gym, which described itself as award-winning, has now deleted its Instagram and Facebook pages.
When contacted by Daily Mail Australia, a spokesperson for the gym said it would “reopen soon” but gave no further details.
Chray Fitness Pty Ltd, trading as F45 Surry Hills (pictured), went into administration on Wednesday
Memberships at the branch range from $59.95 per week for a 12-month subscription, and $69.95 per week for three months.
Alan Walker of WLP Restructuring has been appointed receiver.
More than 20 F45 franchises have closed in the past 15 months, including a number in Queensland, while 119 franchises are up for sale across the country.
The F45 gym in Springfield – a suburb of Ipswich in the Sunshine State – closed its doors on Tuesday.
Owner Aaron Hawkins, whose company Forging Fitness Pty Ltd traded as F45 Springfield, decided to liquidate the business due to higher rents.
Memberships at the Surry Hills branch (pictured) range from $59.95 per week for a 12-month subscription and $69.95 per week for three months
Dissolve Liquidator Cliff Sanderson told Daily Mail Australia on Wednesday the investigation into the company was in the “early stages” but Mr Hawkins saw the franchise was no longer profitable.
It comes after the struggling fitness chain closed at least five gyms in October last year.
The Opulent Group, one of F45’s largest franchisees, has closed gyms in Sydney, four in the southern suburbs of Kogarah, Kirrawee, Caringbah, Miranda and one in Balgowlah, on the northern beaches.
F45 Training Parramatta CBD in Sydney, F45 Training Bayswater North in Melbourne and F45 Training Devonport in Tasmania are all set to close.
Earlier this year, branches in Wollongong, including in Bulli and Corrimal, and Zetland in Sydney, closed their doors.
Hollywood actor Mark Wahlberg invests $450 million in F45. He is pictured with David and Candace Warner
Two Victorian branches were also closed, including those in Port Melbourne and South Yarra.
F45 CEO Tom Dowd, who was appointed in March last year to turn around the struggling training company, previously told Daily Mail Australia the company was not afraid to reduce its network.
“We are willing to shrink to grow,” he said.
‘Closing unproductive locations to add value to existing studios strengthens our system.
‘An important aspect of our real estate strategy is preventing oversaturation.’
Launched in 2012 with one gym in Sydney, F45 was considered revolutionary in the fitness world with its 45-minute high-impact interval workouts.
The franchise also attracted the attention of celebrity investors, with Hollywood actor Mark Wahlberg investing $450 million, making him the second largest shareholder after founder, CEO and chairman Adam Gilchrist.