The parent firms of UFC Gym Australia have $15 million in debt.
The first step towards potential bankruptcy was taken last month by Ultimate Franchising Group Pty Ltd. and Ultimate Franchising Group Properties Pty Ltd. The organizations are in possession of the master agreement for UFC Gym Australia and New Zealand, which operates multiple locations around Oceania.
On Monday, a local Australian news source broke the story of UFC Gym Australia's financial difficulties. The parent firms are reportedly owed $15,654,000 by unsecured creditors. Australia's national department of revenue is owed $160,000.
Due to financial difficulties, UFC Gym Australia recently closed all of its locations indefinitely. In light of this void, it's unclear if the franchise's present owners will try to sell.
Unpaid staff at their numerous locations are reportedly owed $42,000.
In recent years, the MMA scene has seen significant growth in Australia and New Zealand. At UFC 290, Yair Rodriguez will battle UFC Featherweight Champion Alexander Volkanovski, who trains at City Kickboxing in Auckland.