An embattled gym chain with businesses all across Australia has collapsed six months after external administrators first took over the business amid a protracted legal fight, with one of the directors going bankrupt.
Mixed martial arts gym franchise UFC Gym Australia and New Zealand, which at its peak had more than 10 fitness centres in Sydney, Melbourne, Perth and the Gold Coast, was court-ordered to go into liquidation late last week.
On Thursday afternoon, the NSW Supreme Court appointed Desmond Teng and John Refalo of insolvency firm Byrons as liquidators of the chains parent companies, Ultimate Franchising Group Pty Ltd, Ultimate Franchising Group Properties Pty Ltd and UFC Gym Prospect Pty Ltd.
These companies held the master franc…
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