Boxing gym chain Hustle Boxing has fallen into administration six years after opening its first branch.
The boxing start-up was launched in 2019 by Tim McGann and Simon Maree with support by rich-list investors including pub mogul Arthur Laundy and Yellow Brick Road chairman Mark Bouris.
Its first premises opened in Sydney’s Potts Point before expanding into the inner west with a gym in Newtown in April 2025.
The Potts Point venue is listed on Google as “temporarily closed” while the Newtown gym is still listed as open.
Hustle also opened a gym in Brisbane’s Fortitude Valley in a brief foray into Queensland before it went into liquidation in March 2024, ultimately causing the domino effect that has put the business into administration.
The Brisbane gym shut down less than two years after opening, after running at a loss the entire time it was open, with the company owing $2 million to unsecured creditors.
Most of the money owed was for trade creditors who worked on the gym’s high-spec fit-out, according to the liquidator’s report.
Duncan Clubb and Andrew Sallway of audit and accounting organisation BDO have been appointed administrators “as a result of several unanticipated events that severely impacted the performance of the business”.
“The current intention of the VA is to preserve the business by way of sale or recapitalisation,” a BDO statement said.
“In this regard the business is continuing to trade as usual whilst the administrator explores these options.
“The directors are actively working with the Administrator to support these goals.”
The Hustle Boxing website and its social media pages are still currently active, but the last post it shared on Instagram is from September.
SkyNews.com.au has contacted Hustle Boxing for comment.
According to the website, the Newtown gym offered several different pricing packages including a drop-in class for $39, three sessions for $79, , 10 class pack ($370), 20 class pack ($700), 30 class pack ($995) and a 50 class pack ($1560)
It also featured kids’ boxing memberships at a cost of $20 per week while they could attend a casual class for $29.
Hustle Boxing also sold merchandise on its website such as t-shirts with the brand name, tote bags and boxing gloves.
When it opened, former NRL player Daniel Conn, boxer Ellice Whichello and fitness trainer Andrew Papadopoulos ran a combined 50-minute strength training session with full body exercises.
Conn later stopped working for the business and ended up copping a 14 month conditional release order after pleading guilty to intimidation and stalking, destroying property and breaching an AVO over three incidents at the Potts Point gym.