Troubled fitness chain Derrimut 24:7 Gym has entered a critical phase of its bankruptcy and restructure, with expressions of interest now officially being sought for the business while administrators work to protect staff entitlements.
Amid mounting pressure from the Australian Taxation Office (ATO) over unpaid tax, superannuation and supplier debts, the chain’s operating entity was placed in voluntary administration earlier this month.
HM Advisory’s Stephen Dixon has been appointed as Administrator to Derrimut Gyms which includes three companies – Derrimut 247 Gym (VIC) Pty Ltd, Derrimut 247 Gym (SA) Pty Ltd and ACN 139 283 104 Pty Ltd. The latter is the Trustee of the Solomos Family Trust.
HM Advisory has confirmed that more…