JC Weight Loss Centers Canada Ltd., bankruptcy

JC Weight Loss Centers Canada Ltd., which operated Jenny Craig weight management centers in 5 provinces across Canada, filed an assignment in bankruptcy on May 4, listing approximately USD$250M of debt. Various sources have cited the change in the industry landscape, including weight-loss drugs, at-home exercise machines and health-food stores, as the main causes of the company's insolvency. The company has shut down and is discontinuing its Canadian operations, and all Canadian employees have been terminated. A Chapter 7 filing also followed in the US. B. Riley Farber is the Bankruptcy Trustee, and Blakes is counsel for the company.

By: Dina Milivojevic