Two more F45 Training gyms have closed – as leaked email is revealed

Two more F45 Training gyms have closed as the crisis engulfing the once-popular Aussie fitness chain deepens.

F45, which is known for its intense interval training and was backed by stars such as Mark Wahlberg, was at one point the toast of the fitness world, listing on the New York Stock Exchange at $US1.46billion in 2021.

But a plummeting share price and a collapse in investor confidence has seen the company delisted from the stock market and multiple franchises going under.

Now, two more chains have shut their doors.

Last Friday, F45 franchises at Labrador and Surfers Paradise announced to their members they were closing, reported news.com.au. 

The venues, based on the Gold Coast, had both been open for a decade.

A message on the Instagram account of the Labrador franchise said it was ‘permanently closed’. 

‘Cherishing 10yrs of memories and life-changing moments we created together. Thank you for being a part of our journey,’ the message added. 

A message on the Instagram account of the Labrador franchise said it was ‘permanently closed’

At least four franchises have closed on the Gold Coast over the past year, while over two dozen have shut across Australia in the past 18 months. 

It comes as an F45 insider leaked an email from a business broker complaining that interest in the buying the gyms has plummeted massively compared to two years ago.

‘I have been specialising in the health & fitness sector for 7 years now. Over the years I have worked with a number of brands including F45,’ the email, seen by news.com.au, read.

‘The brand image has been significantly harmed over the last 12-18 months and it has become almost impossible to even sell them for $1 based on the enormous risk buyers are faced with moving forward.

‘Unfortunately I’m turning dozens of franchisees away due to the massive lack of buyer interest out there. 

‘It has even had a noticeable impact on other functional training brands with buyers very reluctant to invest into the industry AND many lenders wont touch them, especially F45.’

More to come.