New owner takes on Fernwood Loganholme Franchise

Latest News

February 25, 2020

Finance / Fitness /

Magnolia Capital has become the new owner of the popular Fernwood Fitness Loganholme gym on Brisbane’s southside - which was recently the subject of insolvency under previous owners.

Magnolia Capital, led by founder and Chief Executive Mitchell Atkins, has proposed to take over all outstanding employee entitlements, offered all existing employees new roles, continued relationships with existing contractors including trainers, reaffirmed all club memberships and fully capitalised the business to operate independently moving forward.

Atkins notes “Fernwood are 100% supportive in our quest to build the Loganholme branch up to the standard its members and employees deserve.

“From the Employee benefits, through to club member notifications and a clear plan for growth and improvement moving forward, we will be working closely with them every step of the way.”

Looking forward, Atkins advises that the team at Fernwood Loganholme are looking forward to putting this period behind them and getting back to what they do best - helping the local community to live their best and healthiest lives.

Atkins added that speaking with the team at Fernwood Loganholme made it clear the club is a thriving mecca for health and wellness.

Insolvency and Business Recovery at Hall Chadwick, Partner David Ingram also confirms this as a positive outcome for Fernwood, the Loganholme community and most importantly the staff of the business.

5th November 2019 - Fernwood Loganholme franchisee goes into liquidation with $1 million debt

23rd September 2019 - Operators of Fernwood Loganholme enter administration owing $1.1 million

27th July 2017 - Survey shows Fernwood delivers Australia’s most satisfied fitness club members

15th December 2016 - Fernwood Fitness surpasses fundraising goal with $128,291 donated to BCNA

29th November 2016 - Fernwood Fitness to partner Melbourne women’s AFL club

10th November 2016 - Fernwood Fitness reaches halfway point in Breast Cancer fundraising

30th October 2015 - Fernwood Fitness aims to raise $100,000 for Breast Cancer Network Australia

7th August 2015 - Fernwood Fitness joins Mudderella as its Official Gym Partner

28th July 2015 - Fernwood Fitness plans for women to Lift the Nation

12th July 2015 - Medibank’s GymBetter expands with Fernwood Fitness and YMCA partnerships

24th June 2015 - Fernwood Female Fitness gains highest level of customer satisfaction among Australian gym chains

5th March 2013 - Fernwood Fitness opens its doors to mark International Women’s Day

8th March 2012 - Fernwood Fitness marks International Women’s Day with free admission

3rd March 2008 - Fernwood Goes Bolly!

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