The Jenny Craig Australia and New Zealand store operations will close after its voluntary administrators failed to find a buyer for the weightloss business.
The administrators Vaughan Strawbridge, Kate Warwick and Joseph Hansell of FTI Consulting have recommended the company be placed into liquidation. As a consequence, all staff will be made redundant.
Last month the administrators were confident they would find a buyer. Fifteen interested parties participated in a bidding and sale process, and four submitted non-binding indicative offers.
In a statement announcing the immediate closure of the stores, the administrators said the result is “an unfortunate outcome” which they had sought to avoid.
However, the brand will continue online; healthcare technology start-up Eucalyptus has bought the digital business.
Jenny Craig’s Australian and New Zealand subsidiary was placed in administration following the collapse of its US parent company.
The business founded by Jenny Craig and her husband Sidney in 1983 entered Chapter 7 proceedings and filed for bankruptcy, unable to repay a loan.
