Another F45 franchise in inner Sydney has shut suddenly, the latest in a series of closures for the one-time fitness giant.
F45 training in Alexandria entered liquidation on Monday, February 26, according to an ASIC listing this week.
The gym has since shut it doors and has referred its members to F45 in Rosebery, some 3km away.
Stream local 7NEWS free on 7plus
The branch held its last class on Tuesday night, and took to Instagram to share its gratitude to its customers.
“Last class ever … thank you,” the post read.
The closure is just the latest for the former fitness giant which has shut the doors on many locations across the country over the past year or so.
At its peak, the brand, which offers 45-minute functional group workouts, was valued at $2 billion.
Founder of C3 Training — another popular group training gym franchise — Serkan Honeine told 7NEWS.com.au previously he has had dozens of F45 branch owners approach him in the hope of re-franchising.
“We’ve spoken to many F45 franchisees … and they all have a similar narrative,” he told 7NEWS.com.au.
“They all say that F45 grew too quickly and when they expanded overseas they lost sight of supporting the local franchisees here in Australia.”
Honeine added when F45 first exploded it “pioneered the concept of group training at a huge scale and set the foundations for the rest of the industry to build on”.
“But since then the product hasn’t evolved,” he said.
“And of course, COVID-19 was a real catalyst for a lot of people who sought out other training options.”
According to Honeine, the F45 training model can also lead to members facing a plateau in their progress due to the repetitive nature of the workouts.
“There is also that risk of injury as the workouts are often hard on the body,” he claimed.
7NEWS.com.au has contacted the liquidators involved for further comment.