Jenny Craig bankrupt, will close down business in U.S. and Canada
Court filings list more than $323 million worth of debts to Canadian creditors
After 40 years in business, weight-loss chain Jenny Craig has announced it is closing down in the U.S., Canada, and possibly several other markets around the world.
Reports of the chain’s demise first emerged last week, when the chain was scrambling to come up with cash to cover a looming debt payment, and warning staff of major layoffs to come
The business — which offers pre-made meals and coaching lessons to millions of people trying to lose weight — has roughly 500 franchises across the U.S. and Canada, and more globally.
It was founded by American entrepreneur Jenny Craig in the 1970s but changed hands numerous times over the years.
Its most recent sale was in 2019, when it was purchased by private equity firm HIG Capital for an undisclosed sum.
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