By Editor,Kylie Stevens

Copyright dailymail

Aussies have been losing their minds over fears an embattled fitness chain is at risk of collapse after collecting millions of dollars’ worth of debt.

Derrimut 24:7 Gym is facing liquidation with the Australian Taxation Office seeking to claw back $12.5million in debts, which include unpaid superannuation and penalties.

Last week, a Federal Court hearing to wind up the company adjourned the matter until October 10.

Founder and director Nikolaos Solomos has blamed the financial woes on former staff, assuring fitness instructors in a recent Zoom meeting the debt was ‘under control’ and they would soon be paid.

Derrimut 24:7 has more than 25 gyms located across South Australia and Victoria, and about 200,000 members.

Mr Solomos has repeatedly assured on social media the gym chain isn’t shutting down, despite the recent closure of at least four locations across two states.

Controversial billionaire Adrian ‘Lambo Guy’ Portelli hinted that he could be stepping in to rescue the business after a cheeky video emerged on Wednesday.

News of the financial woes at the gym has prompted members to take to TikTok to vent their concerns about whether or not the gym will remain open, with some worried whether or not they will be reimbursed the $299 membership fee if it closes.

‘I signed up two weeks ago and paid for an entire year,’ one woman said in a video.

‘I’m trying to find out what’s happening with my money. Will I get it back?’

‘I can’t go back to Anytime Fitness,’ another said.

‘I bought the membership last week,’ a third added.

A video shared to social media by the billionaire and Mr Solomos showed Mr Portelli arriving at a Derrimut gym in a black van.

He was seen climbing out of the van holding a cardboard box scrawled with the words ‘FIRST DAY AT WORK’.

‘Side quest,’ the caption read.

Mr Solomos fuelled more speculation when he later posted a cryptic video message thanking everyone who has supported him in the last ten weeks.

‘It’s a proud moment. I did say at the start to watch this space, that I had this covered and that we’re not going anywhere for the next 100 years,’ he said.

‘I want to thank my staff. My staff are my family, my suppliers are my family and members are my family. So, thank you to all of you.’

Mr Portelli confirmed to the Sydney Morning Herald that he’s in negotiations to own part of the business.

‘We haven’t put pen to paper just as yet, however, work has begun in the background,’ he said.

‘Our teams are working together to make sure we’re on the best possible foot going forward and bringing this iconic business back to life.

‘My first task will be to ensure all suppliers and tax debts are paid.’

Daily Mail has contacted Derrimut 24:7 for further comment.

It’s not the first time Mr Solomos has been associated with Mr Portelli.

He previously appeared on Channel Nine next to the billionaire on the 2024 finale of The Block, where Mr Portelli made history by purchasing all five Phillip Island properties for a combined $15.03million.

It’s understood that Derrimut 24:7 instructors who were owed wages have since been paid, The Adelaide Advertiser reported.

Mr Solomos said the fitness chain recently ‘had a couple of wins’.

Founded in 2010 in Melbourne by Mr Solomos, Derrimut 24:7 aims to provide a premium fitness experience with state-of-the-art facilities and personalised training plans.

Membership involves a $9.95 weekly direct debit or $299 12-month upfront fee.