Jenny Craig administrators confident of finding suitor for ANZ business

Jenny Craig administrator confident
The local business has to restructure after the US firm’s bankruptcy. (Source: jennycraigausnz/Facebook)

The administrators of Jenny Craig’s Australian and New Zealand subsidiaries say they are in negotiations with several parties interested in buying the business.

In an update to creditors regarding the sale process, administrator Vaughan Strawbridge of FTI Consulting, said the sale process is well progressed.

“We are working with a number of parties who are interested in taking the businesses forward.

“We are seeking to achieve an outcome quickly, which would provide certainty to our customers and staff about securing the future of the business.”

The administrators said they would continue to trade the business’ 91 centres across Australia and New Zealand while the sale process continues.

Last week, the company’s US parent collapsed and filed for bankruptcy, leaving its Australian and New Zealand leadership teams to initiate a restructure of the business.

The local business is believed to be trading well but was caught up in the US parent’s bankruptcy process.

This article was first published on sibling website Inside Retail.