Essentially Pop Idol for strippers. In the Aussie original, a stripper tour manager would go around the country meeting lots of men who thought they had 'it' to do the Full Monty for real. The pacing and hosting of the UK version were rather different, particularly as the hostesses were - erm - female, so it robbed the show of some of the sympathy/humanity.
It never really appeared on the publicity radar in this country. In 2004, one of the 'winners' streaked at the National TV Awards in protest of the cancellation of a prize allegedly promised to him and his seven team mates (a UK and world tour).
Based on a successful Australian format, which formed the stripping troupe Thunder From Down Under. We're not making this up.