April 30, 2020
it appears that Quick Weight Loss Centers, headquartered in Pompano Beach, FL, has gone out of business, a victim of the Covid-19 shutdowns and lost revenues. closing its 40 or so centers located in Florida and Texas. The company appears to be in the process of filing for Chapter 7 bankruptcy, as of March 27. Many customers complained that the company gave no notice that they were closing, leaving many very surprised.
The program involved the purchase of overpriced company brand supplements and meal replacement food items that in many cases cost thousands of dollars, in addition to sign-up fees. After aggressive sales pitches, many customers were shocked and surprised to learn of the total cost of the program.
This was a 25-year old regional commercial weight loss chain with 43 locations, in Florida (19 sites) and Texas (24 sites). The Quick Weight Loss program originated in 1988 and has been in South Florida since 2001. It is not a franchise. It’s a plan based on the use of grocery store food, plus company supplements. As for the company history, in August 2016, Sentinel Capital acquired Quick Weight Loss Centers. Sentinel invested alongside minority partner Skyline Global Partners.
Based on the industry average of $500,000 per commercial weight loss center, and 43 centers in operations, Marketdata analysts have estimated that this company had 2018 revenues of about $24 million.
The Broward County court has designated Mr. Phillip von Kahle as the Assignee of all assets of the company, as of March 27, 2020. As the President of Michael Moeker & Associates, he serves as the assignee in Assignment for the Benefit of Creditors (ABC) cases, executes workout agreements, and is a Court Appointed Receiver, Chapter 11 Trustee, Liquidating Trustee, Court Examiner, Curator and Conservator. A former turnaround management expert with emphasis in operations and marketing, Phil is very aware of the adversarial effects companies endure when engaged in insolvency proceedings. He takes these internal and external influences into full consideration and develops tailored marketing plans for each case. Phil has also been engaged as a successor Fiduciary in a number of federal and state court cases throughout Florida involving unique issues.
For More Information About Commercial Weight Loss Chains:
Contact Marketdata LLC and 31-year independent industry analyst John LaRosa, at: 813-971-8080 or marketdataent@yahoo.com. Reports, teleconference calls, custom research projects and more. See: https://www.marketdataenterprises.com/diet-market-our-specialty/
Our best-selling report: “The U.S. Weight Loss & Diet Control Market”, Feb. 2019. 450 pages. Sold by single chapters too. Unbiased weight loss market research since 1989–it’s our specialty!