Lifeshape, a weight loss clinic based in Milton, has entered liquidation after owing more than half a million dollars to creditors.
The clinic, which had a 25-year history and helped over 10,000 Australians lose weight, ceased trading in April 2024.
Liquidator Jason Bettles of Worrells confirmed the closure and revealed that the company owes employees $307,430 in unpaid wages, leave entitlements, and superannuation.
The Australian Securities and Investments Commission (ASIC) reports further detailed debts of $680,462.88 to various creditors, including the Australian Taxation Office and real estate company Jones Lang Lasalle (JLL).
Lifeshape’s website acknowledges the closure of its Milton office but does not provide a reason for it. The company recently celebrated its 25th anniversary on Facebook, highlighting its growth and expansion to Sydney and Melbourne. It also won the Queensland Telstra Business of the Year award in 2006-07 and was a finalist for the same award in 2023.
According to the ASIC report, the company’s remaining assets are limited despite its past successes, with a net resellable value of only $847. Lifeshape Clinic did not respond to requests for comment.
Published Date 18-July-2024