A May 2022 agreement between Planet Fitness and joint venture Castle Point Fitness envisaged at least 25 locations, with the company pointing to the success of its Australian clubs as a model.
However, before a single location opened, Armstrong and Casson placed the business into liquidation, citing insufficient operating revenue.
Debts uncovered
Thomas’ second liquidator’s report released November 5, 2026, confirmed gym equipment had been ordered and deposits paid.
Thomas said he was working towards recovering the deposits or selling the equipment on the open market, but noted his firm’s legal team may need to be involved.
No information was provided on the value of the equipment.
The company’s only other assets at liquidation…