Backed by celebrities including Mark Wahlberg, F45’s $US1.46 billion float in 2021 placed founder Adam Gilchrist on the Financial Review Rich List.
F45 founder Adam Gilchrist arriving in Sydney earlier this month.citing “material weaknesses” in accounting practices.
F45 sells franchised gyms that broadcast 45-minute circuit training workouts through a centralised program. The company was founded by Mr Gilchrist, Rob Deutsch and Luke Istomin in 2012, with its first franchise launched in Paddington, Sydney. In a trading update to the market in July 2022, F45 revealed new studio openings would be 60 per cent lower than the company had planned. Earnings and revenue guidance were slashed by more than 50 per cent, and an anticipated $US250 million line of credit would not be available.
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