Jenny Craig weight loss empire filed for bankruptcy due to pandemic effects, competition from alternative drugs, and mounting debt.
At its height, the 40-year-old weight management and nutrition icon managed around 700 centers worldwide. After making some encouraging business deals, the company suffered during the pandemic with changing consumer trends and e-commerce alternatives stealing profits. The company simultaneously faced increasing competition in recent years, including developments in weight loss and antidiabetic drugs that have shaken up the industry. With around $250 million in debt, the company was forced to liquidate its operations in the US.
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