Jenny Craig Australia stores will close,and all employees terminated,after administrators were unable to find a buyer for the weight-management and nutrition business. The decision affects 73 stores and 306 employees in Australia,as well as 18 stores and 71 employees in New Zealand.
Jenny Craig Australia when its US parent declared bankruptcy,though at the time it continued to operate as voluntary administrators Vaughan Strawbridge,Kate Warwick and Joseph Hansell of FTI Consulting sought offers. In an update today,FTI recommended the business be liquidated,and said that all employees had been informed.
“The Administrators sought to sell the Australian and New Zealand operations of the Jenny Craig Group as a going concern,with the intent of preserving as many jobs as possible and limiting the losses for creditors and sought offers from interested bidders,” FTI said. “Despite best efforts,the Administrators were unable to find a buyer.”
Woolworths-backed healthcare tech Eucalyptus has agreed to buy Jenny Craig Australia’s online capability. The startup operates several brands taking in men and women’s health,fertility and skincare,all based around getting medications prescribed by doctors online. This includes the website Juniper,which focuses on weight loss.
Read more from Tim Biggs.