‘Lambo Guy’ Poised to Offer Lifeline to Embattled Derrimut Gym Empire

‘Lambo Guy’ poised to offer lifeline to embattled Derrimut Gym empire

The billionaire businessman says he is in negotiations to own part of the struggling gym chain facing liquidation over $15 million in tax debts.

Nikolaos Solomos vows Derrimut 24:7 Gym will survive despite $12.5m ATO debt

Embattled fitness chain Derrimut 24:7 has avoided immediate liquidation after a Federal Court adjourned proceedings to wind up one of its companies over a $12.53 million debt to the Australian Taxation Office. Director Nikolaos Solomos addressed instructors via Zoom last week after growing unrest among staff, many of whom had gone unpaid for more than a month. He assured them the tax debt was “under control” and pledged that wages would be recti…