Jan 8, 2008 11:05 am US/Central
'Fig' Lipodissolve Firm Files For Bankruptcy
ST. LOUIS (AP) ―
A suburban St. Louis company that provided fat-dissolving injections has filed for Chapter 11 bankruptcy protection about a month after closing 17 clinics and leaving 500 people out of work.
Go Fig Inc., which does business as Fig, provided Lipodissolve treatments, a process in which injections of a compound substance melts fat and flushes it from the body.
Last month, Fig posted a message on its Web site saying that "due to economic conditions beyond our control," the company ceased operation Dec. 7. The only one of its 18 clinics to remain open was in Costa Mesa, Calif., which is independently owned.
In an interview last month with the St. Louis Post-Dispatch, Chief Executive Rob Semaan cited a "lethal combination" of decreased discretionary spending by consumers, lower seasonal sales in the third and fourth quarters and bad press about Lipodissolve products.
Fig had grown rapidly since opening its first clinic in suburban St. Louis two years ago. In addition to St. Louis and Costa Mesa, it operated clinics in Kansas City, Las Vegas, Houston, Dallas, Atlanta, Scottsdale, Ariz., Louisville, Ky., and Columbus, Ohio.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
Click to enlarge
Stumble It!
