Derrimut 24:7 Gym director Nikolaos Solomos has reassured members the fitness chain is here to stay, after billionaire Adrian Portelli confirmed he is negotiating a stake in the troubled business.
In an Instagram video on Wednesday, September 24, Solomos thanked followers for their support, calling it “a proud moment” and vowing: “We’ve got this covered, we’re not going anywhere for the next 100 years.”
His comments came as Portelli, known as the “Lambo Guy,” announced plans to help stabilise Derrimut, which is facing a Federal Court hearing on October 10 over a $12.53 million ATO debt.
Portelli said he is negotiating to buy into the company, pay off debts and keep the doors open for 800 staff and hundreds of thousands of members.
“The first thing we need to do in Derrimut’s situation is obviously, pay the people that need to be paid. The second thing is to listen to the members,” Portelli said, adding his first priority was fixing cleanliness issues.
“That’s an easy fix for us, it won’t cost us much. Let’s make Derrimut great again.”
Solomos, who appeared alongside Portelli in the 2024 finale of The Block, had hinted in recent weeks that investment talks were underway, telling fitness instructors the debt was under control.
“There’s a lot happening in the next 14 days that will come out in the media and validate what I’m saying,” he said.
The chain’s financial struggles have already forced the closure of several South Australian branches, including Noarlunga last week. Derrimut’s lawyers are also fighting attempts by landlords to shut more gyms.
Despite the challenges, Solomos has remained defiant, declaring, “We’ve got this covered.”
Source: The Advertiser.
