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What happened to F45? ‘Enormous issues’ behind fitness empire’s downfall
Fitness

What happened to F45? ‘Enormous issues’ behind fitness empire’s downfall

F45 co-founder Rob Deutsch says “never in his wildest dreams” could he have imagined the sudden downfall of the fitness empire he started in 2013.The Aussie gym behind what actor Mark Wahlberg calls the “best workout on the planet” took a major hit to its global ambitions this week after revealing it was laying off 110 staff.It came as Adam Gilchrist, who shares the same name as the Aussie cricketer and founded the business alongside Deutsch, suddenly announced he was stepping down as CEO and chairman of the company’s board of directors.F45 declared it was massively scaling back its expansion plans “amid changing macroeconomic and business conditions”.After planning to roll out 1500 new franchises this year F45 will instead aim for between 350 and 450 and its forecasted revenue has drop...