The future of non-surgical clinic chain Body Catalyst is currently unclear as the announcement comes that the company has entered into administration.
According to the Australian Securities and Investments Commission (ASIC), the appointment was made to Alan Walker and Glenn Livingstone of WLP Restructuring last Thursday December 7.
Declining revenues during a consumer spending downturn are to blame for the collapse, Walker told SmartCompany.
The Commission’s Notice identifies over 40 Body Catalyst locations appointed Australia-wide. All clinics remain open with Walker telling SmartCompany the goal is to “save as much of the business and as many jobs as we possibly can”.
Body Catalyst was founded by Samantha Barakat Light with the vision “to make [treatments like non-surgical liposuction] affordable and accessible to everyone,” she told Professional Beauty in this 2019 interview.
Body Catalyst clinics offer a range of treatments including fat freezing, HIFU and skin rejuvenation.
The first meeting of creditors of The Company is set to be held in Sydney on December 19.
Subscribe to Professional Beauty’s twice weekly e-newsletter for updates.
Read the current issue of our digital magazine here:
- For more news and updates, subscribe to our weekly newsletter
- Follow us on Instagram
- Like us on Facebook
- Join Australia’s largest network of beauty industry professionals on LinkedIn
- Subscribe to our print magazine
Have an idea for a story or want to see a topic covered on our site and in our pages? Get in touch at info@professionalbeauty.com.au.