Weight Loss Brand Jenny Craig Mulls Bankruptcy If Sale Fails (1)

Jenny Craig Inc., the weight-loss services provider backed by H.I.G. Capital, is considering a bankruptcy filing if efforts to find a buyer for its assets fail, according to people with knowledge of the situation.

A filing could come as soon as next week, said the people, who asked not to be identified because the talks are private.

The struggling diet company remains in months-long discussions with its lenders to re-work roughly $250 million of debt. Miller Buckfire & Co. has been running a sale process on behalf of the company, which has a loan scheduled to mature in ...