The future appears to be like promising for Jenny Craig as directors subject bids to purchase the model, a consulting agency says.
FTI Consulting final week took the reins of the load administration service’s Australian and New Zealand operations after they slipped into voluntary administration.
Days earlier than, the Melbourne-founded business filed for chapter within the US.
The agency’s Vaughan Strawbridge, Kate Warwick and Joseph Hansell had been appointed as voluntary directors and met collectors for the primary time on Thursday.
FTI mentioned Jenny Craig nonetheless had the backing of its loyal prospects and suppliers, who had been supporting the business to allow it to maintain guiding prospects by way of their weight reduction journeys.
The model’s administration group continued to commerce out of all 91 Australian and New Zealand centres and work to discover a new proprietor was properly progressed, FTI mentioned.
“The sale process is well progressed and we are working with a number of parties who are interested in taking the businesses forward,” Mr Strawbridge mentioned.
“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 Australian and New Zealand corporations of the Jenny Craig Group function independently of the US business and the voluntary directors proceed to work with events with respect to discovering a brand new proprietor for the companies right here.”
Jenny Craig was founded in Melbourne in 1983 and grew to become a household name as one of the biggest weight management companies in the world.
It has about 600 centres globally with more than 500 locations in North America.
Its main services consist of one-on-one personalised support with nutrition and lifestyle planning.
Various celebrities have featured as ambassadors over the years including singer Mariah Carey and former Spice Girl Melanie Brown, known as Mel B.
Locally, comedian Magda Szubanski and the late Barry Humphries and his alter ego Dame Edna Everage were also ambassadors.
Private fairness funding agency HIG Capital purchased Jenny Craig in 2019 for an undisclosed sum.
Source: www.perthnow.com.au
