Weight loss giant Jenny Craig’s Australian and New Zealand operations have gone into voluntary administration.
The Melbourne-founded business last week filed for bankruptcy in the US, closing its North American corporate offices and stopping operations.
A representative at the time said the decision would not affect local services but FTI Consulting was appointed to lead the voluntary administration on Tuesday.
The firm confirmed its team of Vaughan Strawbridge, Kate Warwick and Joseph Hansell had been appointed as voluntary administrators of Jenny Craig’s Australian and New Zealand companies.
The administrators intend to explore options to restructure the Australian and New Zealand companies to “avoid the fate [of] the US business”, a statement said.
The Guardian understands the administrators intend for the businesses to continue as usual in the short term, with the aim of the voluntary administration being to secure the business for the long term.
“It is unfortunate where an overseas parent company enters bankruptcy and impacts the local business, in particular, where they are operated independently to each other,” Strawbridge said.
“We are working with the Australian and New Zealand leadership team to trade the…