At a meeting of creditors, Gavin McConnon and Brendan Spratt, the team behind the once-successful F45 franchise in Ireland, explained their debts, their salaries and the end of the road.
Gavin McConnon and Brendan Spratt, who co-own Dumbbell Fitness Ltd, have run out of road for their chain of F45 gyms. In a letter to their creditors, they give their account of what went so wrong for the company.
Gavin McConnon brought the first F45 gym into Ireland in 2017 with grand ambitions. But behind on payroll taxes and with more than €200,000 of warehoused Revenue debt, the Sheriff came calling. A liquidator is now being appointed.
In just a few weeks F45, the Hollywood endorsed workout has lost its chief executive while hundreds of planned franchises have been axed. With its share price in a deep dark hole, F45's biggest Irish franchisee talks to The Currency.
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