Jenny Craig’s Australian prospects and employees have been instructed to sit down tight as directors attempt to restructure the corporate.
FTI Consulting was on Tuesday appointed to guide the voluntary administration of the burden administration model’s Australian and New Zealand operations.
It got here after the Melbourne-founded business final week filed for chapter within the United States.
FTI Consulting confirmed Vaughan Strawbridge, Kate Warwick and Joseph Hansell would lead the voluntary administration of the Australian and New Zealand corporations, which function individually to the US business.
The directors intend for the businesses to proceed buying and selling whereas they discover choices to restructure.
Interested events have already made contact with directors, Mr Strawbridge mentioned in a press release.
“We will be working with those parties and stakeholders of the business to secure the ongoing business,” he mentioned.
Administrators would supply readability to prospects and workers “as soon as possible”, Mr Strawbridge mentioned.
Jenny Craig was based in Melbourne in 1983 and grew to turn into a family title as one of many largest weight administration corporations on the planet.
It has about 600 centres globally with greater than 500 areas in North America.
Its primary providers encompass one-on-one personalised assist with vitamin and life-style planning.
Various celebrities have featured as ambassadors through the years together with singer Mariah Carey and former Spice Girl Melanie Brown, referred to as Mel B.
Locally, comic Magda Szubanski and the late Barry Humphries and his alter ego Dame Edna Everage have been additionally ambassadors.
Private fairness funding agency HIG Capital purchased Jenny Craig in 2019 for an undisclosed sum.
Source: www.perthnow.com.au
