The country’s largest weight-loss chain has lost its magic touch.
Late last week, Herbal Magic announced it had closed all its locations in central and Eastern Canada, and filed for bankruptcy.
“It has become evident that our current business model is not viable in today’s changing weight-loss market and significant changes were required,” Herbal Magic posted on its Facebook page.
As a result, many of the company’s clients are now losing dollars instead of inches.
The company provides personal coaching and nutritional supplements to its clients with membership fees adding up to more than $1000/year. Additionally, clients must pay for their monthly rounds of diet supplements.
And on August 1, they did just that. Days later, the company closed its doors.
While the customers will still get their supply of supplements, they will obviously have to do without the accompanying services that they’ve paid for. This includes things like one-on-one consultations and weekly weigh-ins. Of course, the clients aren’t the only ones to lose out in the closures – the closure of its more than 150 locations across Canada will result in the loss of many jobs.
The news comes a year after Herbal Magic filed for bankruptcy protection. Apparently, we can expect to hear from the company later today.