Weight Loss Brand Jenny Craig Looks to Sell Amid Cash Crunch

Jenny Craig Inc. is seeking potential buyers as the diet brand grapples with cash flow pressures, according to people with knowledge of the situation.

The HIG Capital-backed company is also having active discussions with its lenders to rework roughly $250 million of debt, said the people, who asked not to be identified because the talks are private. It has been exploring its options with the help of restructuring adviser Miller Buckfire & Co ahead of a loan due in October 2024, Bloomberg reported last month.

CION Investment Corporation and Pacific Investment Management Co. are among major lenders to the company. ...