Sports nutrition business Flush Fitness has collapsed into administration.
The business was started by former international poker player Steven Hines in 2008.
Flush Fitness' website describes it as the largest distributor of sports nutrition products across Australia and New Zealand.
It offers a range of sports nutrition products including protein powder, protein bars, pre and post-workout supplements and ready to drink protein shakes and its brands include Titan, Victory and Vusion.
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Flush Fitness turns over $39 million a year with an average gross profit over the past three years of $12 million.
It employs 35 staff and has more than 2300 customers, with its products stocked in Woolworths, Coles, IGA, Costco, Chemist Warehouse, Priceline and BP petrol stations.
Paul Weston of Pitcher Partners was appointed as an administrator on January 13 and advertised for expressions of interest in the business on Friday.
Pitcher Partners is continuing to trade the business of Flush Fitness, while seeking offers for the purchase of its business and assets as a going concern or proposals for a deed of company arrangement.
Daniel Cooksley of Pitcher Partners said the collapse was the result of "working capital-related" financial issues.
Flush Fitness was hit by a salmonella scare last year after the microbial contamination was uncovered in a raw meal organic shake and meal replacement product it distributed, prompting a recall by the NSW Food Authority.
But Mr Cooksley said this was not a factor in the collapse of the business.
"We are not aware of any confirmed reports of illness relating to the product, but it was recalled following an advice by the supplier," he says. "There was no material impact on Flush Fitness from a financial aspect following this recall."
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