New owner takes on Fernwood Loganholme Franchise

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.