Weight loss center operator Jenny Craig told its staff to expect mass layoffs and retail location closures in the coming weeks as the company plans to cease operations of its physical locations, NBC News reports.
Founded in 1983, Jenny Craig operates around 500 retail locations and weight loss centers in the United States, as well as a mail-order meal program. It has approximately 200 franchise locations overseas. The company was acquired by a private equity firm in 2017, and analysts say that the firm is trying to offload the company now. It’s the latest blow to the retail landscape in the United States, with big box retailer Bed, Bath & Beyond entering Chapter 11 bankruptcy, allegedly losing 20% of revenue on every sale due to a flood of coupons.