Jenny Craig’s Australian business calls in administrators

Weight-loss company Jenny Craig’s Australian and New Zealand operations have officially folded, just five days after reassuring the public they would “currently continue to operate and support our clients”.

The Australian management team was reluctant to appoint administrators, but was left with no choice, Strawbridge said. “We are working with the Australian and New Zealand leadership team to trade the businesses with a view to attracting new capital to restructure the Australian and New Zealand companies.

The company has cycled through a number of owners: Miami-headquartered private equity firm HIG Capital acquired the Jenny Craig business, including its Australian operations in 2019, but since earlier this year had been looking to sell the business.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jenny Craig’s Australian business calls in administratorsWeight loss company Jenny Craig’s Australian and New Zealand operations have officially folded, just five days after reassuring the public that they were “currently [continuing] to operate and support our clients”.
Source: theage - 🏆 8. / 77 Read more »

Jenny Craig Australia enters voluntary administration after US business files for bankruptcyAdministrators have been appointed to oversee operations for Jenny Craig Australia and New Zealand less than a week after the US company filed for bankruptcy.
Source: abcnews - 🏆 5. / 83 Read more »

ASX LIVE: Australian shares poised to open higher, earnings in focusAustralian shares poised to rise; GQG inflows of $US5.4b this year; Lynas Malaysian licence valid until start of 2024; Westpac lifts dividend on profit jump. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »