Tycoon admits 'difficult decision'
Diet firm Scottish Slimmers collapses into liquidation
Thirty members of staff, including those in based in the group’s Aberdeen headquarters and some of its coaches across Scotland, have been affected. All classes have been cancelled with immediate effect and with little likelihood of refunds on membership passes.
Chief executive Ms Boyle said that the financial model for the company was “unsustainable”, adding that the new management team had been unable to rely on previous reporting and company data.
She bought the business in March last year for a six-figure sum through her company, Best You (Wellbeing). She said the costs of running the 140-strong class network were twice the level of the annual revenue they generated.
“This has been an incredibly difficult decision to make as I know how much the network of classes means to our members and how our community of members has valued the support of their class coaches in their healthy living and weight loss programmes. Many of our coaches have years of enthusiastic and loyal service and I understand that this decision is a very difficult one for them.”
She intends to create a social enterprise with free access to the Scottish Slimmers online service and digital service which are run by companies unaffected by the liquidation.
Similarly, the Scottish Slimmers-branded food products are unaffected and will continue to be available through all usual outlets. Thirty members of staff, including those in headquarters as well as coaches across the class network are affected by the collapse.
Ms Boyle, who has a 20-year career in commercialising innovation at various companies, was appointed Entrepreneur in Residence at Aberdeen Business School at Robert Gordon University in 2017.
Blair Milne, restructuring partner based in Campbell Dallas’ Glasgow office, was appointed as liquidator yesterday.