18 November 2011: Phil Carter and Chris Hill of PPB Advisory have been appointed as Receivers and Managers of Healthzone Limited (ASX: HZL) and all of its related entities.
In addition, Barry Taylor and Andrew Needham of HLB Mann Judd have been appointed as Voluntary Administrators of the same entities.
Healthzone is a natural health and beauty products distribution and retail business with 110 stores (80 franchised and 30 company-owned) operating across Australia. The business also distributes natural health products to a wide range of independent health food stores, pharmacies and supermarkets across Australia, Asia, Europe and North America. Healthzone has approximately 250 employees.
Mr Phil Carter commented: “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.”
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Further information please contact:
Ben Jarvis: 0413 150 448
Matt Paterson: 0402 140 757
Six Degrees Media & Communication