Derrimut administration widens as seven more group entities collapse

Derrimut 24:7’s restructuring widened on 17 November 2025, when Stephen Dixon of Hamilton Murphy Advisory took control of seven more group entities, a move that pulls the chain’s nutrition, property, supplements, sports and asset holding businesses into the same voluntary administration already covering its Victorian and South Australian gym operators.

The expanded mandate gives Dixon oversight of Protein 247 Pty Ltd, Stevanovic Solomos Pty Ltd, Derrimut Nutrition Bar Pty Ltd, Panamax Property Pty Ltd, Ultimate Performance Supplements Pty Ltd, Indoor Soccer Headquarters Pty Ltd and Solomos Assets Pty Ltd, adding further complexity to a file already shaped by more than $40 million in tax, superannuation, lease and supplier arrears.

With all trading sites remaining open, Dixon is running a parallel investigation into the wider group’s financial affairs while canvassing sale and recapitalisation options for the operating companies. Interest remains strong, including from a party that had walked away from pre-insolvency negotiations, and the administrator has confirmed any viable proposal will need to address the treatment of employee superannuation and statutory entitlements.