Healthy Life's 80 franchised and 30 company owned stores are continuing to trade while the business is in receivership
Natural health and beauty products distribution and retail business Healthzone has gone into receivership but the 80 franchised and 30 company-owned stores operating across Australia as Healthy Life are continuing to trade.
The distribution arm supplies a variety of branded natural products to pharmacies, supermarkets and independent health food stores around the world.
PPB Advisory has been appointed as receiver and manager of the ASX listed Healthzone Ltd and its entities, and HLB Mann Judd has been appointed as voluntary administrators of the same entities.
Phil Carter of PPB Advisory said "Healthzone and its related entities will continue to operate on a business as usual basis and we will keep key stakeholders informed of developments. We will work constructively with healthzone's employees, franchisees, suppliers and other stakeholders to ensure the business continues to operate effectively.
"We are now undertaking a review of the business and our intention is to prepare the company for sale as a going concern."
