Jenny Craig Weight Loss Shutting Down All Operations After Four Decades
Jenny Craig is winding down its weight-loss centers and warning of mass layoffs. Please read the article and follow us around to know more. Jenny Craig, Inc, often called Jenny Craig is an American weight loss, weight management, and nutrition company. The company has more than 700 weight management centers in Australia, the United States, Canada, and New Zealand. The program combines individual weight management counseling with a menu of frozen meals and other foods which are distributed through its centers or shipped directly to clients. Jenny Craig and her husband, Sidney Craig, founded Jenny Craig Inc in 1983 in Melbourne, Australia, and began operations in the United States in 1985. The company expanded rapidly after entering the US, opening 46 locations by 1987 as well as 114 in other countries. In 1991, the company underwent a generating $73.5 million in funding.
Jenny Craig Weight Loss
Reportedly, Jenny Craig is shutting down some of its weight-loss centers and warning employees of mass layoffs amid upheaval in the industry from popular new prescription drugs like Ozempic. Jenny Craig alerted employees to potential layoffs as it begins ‘winding down physical operations’ and hunts for a buyer, according to NBC News. Jenny Craig has nearly 500 weight-loss centers in the United States and Canada. The company was founded in 1983 and did not disclose to CNN how many weight loss centers will close or how many employees will be impacted.
A spokesperson for Jenny Craig claimed to CNN that like many other companies, they’re currently transitioning from a brick-and-mortar retail business to a customer-friendly, e-commerce-driven model. They added that they will share more details to share in the coming weeks as their plans are solidified. Jenny Craig’s program’s nutritionally-balanced menus, which include entrees, desserts, and snacks, are designed to help people lose weight. Bloomberg reported this week, that the company has roughly $250 million of debt and is considering a bankruptcy filing if efforts to find a buyer for its assets fail.
It’s the latest sign of major changes in the weight-loss industry, brought on by popular new prescription diabetes drugs such as Wegovy, Ozempic, and Rybelsus. These relatively new drugs work by stimulating the release of insulin, which helps lower blood sugar. They also help in slowing down the passage of food through the gut. The FDA approved Ozempic for the management of diabetes in 2017 and Wegovy for weight loss in 2021. Traditional weight-loss companies are scrambling to adjust. WeightWatchers is also getting into the prescription weight-loss drug business. The company, now known as WW International, recently bought Sequence, a telehealth subscription service that connects patients with doctors who can prescribe weight-loss and diabetes drugs. The $106 million acquisition of Sequence will give WW a foothold in the growing market for prescription drugs to manage weight loss. Ozempic has gained popularity in part due to celebrities using it for weight loss. But there are many concerns with using diabetes drugs for weight loss, including high costs and shortages that are making it harder for people with diabetes to obtain the drugs.
