Leicestershire fitness guru Rosemary Conley's firm is being restructured by administrators, who were called in yesterday.
They were brought in following a recent slump in magazine sales and debts from the launch of a digital TV channel.
Six members of staff are being made redundant at the firm's headquarters in Quorn.
Speaking about two of her firm's being placed into administration today. fitness expert Rosemary Conley said:
“My heart goes out to the staff affected, and we are talking to them today to try to work out how best we can help them. I have invested a lot of my own money into the business recently, and haven’t drawn any salary for several months, as we tried to keep things going through such tough economic times”.
Administrators were called in after Rosemary Conley TV failed to turn out a profit, and a recent slump in magazine sales.
The administrators called in to look for potential investors for two firms set up by Leicestershire fitness expert Rosemary Conley have issued the following comment:
The Board has taken a responsible decision - going into early administration creates a restructuring opportunity. Our initial priority is to restructure the business and explore the clear potential for investment. Sadly the process involves some difficult decisions including the need to make a number of employees redundant”.
Six staff are being made redundant at the firm's HQ in Quorn. It's after a slump in magazine sales and debts from the launch of a digital TV channel were revealed.
The financial problems at Rosemary Conley Food & Fitness Ltd have been attributed to the cost of launching a dedicated television channel.
The company say since its launch Rosemary Conley TV has failed to make a return, and has been draining the company's resources 'for years'.
More than one million pounds was originally used to set the digital channel up. The magazine arm of the fitness guru's business, Quorn House Publishing Ltd, is also in trouble, with a slump in sales also being blamed for the company's financial problems.
In a statement about administrators being called in to two business run by Rosemary Conley. the Leicestershire fitness expert stressed fitness classes up and down the country would not be affected. She said:
It is business as usual for all the classes around the country. But for the core business the Board and I have had to make this difficult decision.
It’s a day which the team and I have worked incredibly hard to try to avoid but the Board and I believe that this is the most responsible course of action to take. We hope that the process of administration will give us more options and help us to transform the business through new investment”.
If you're already struggling to keep your new year diet, here is some inspiration for you. Doctors told Laura Mack from Tamworth in Staffordshire she was too fat to get pregnant.
She suffered from polycystic ovaries and endometriosis and weighed 22 stone. But after going from being a dress size 28 to a size 12, she's now the mother of two little boys.
Laura Mack has told ITV Central she felt depressed, embarrassed and self-conscious before losing eleven stone in nine months.
Laura Mack, the woman from Tamworth who has lost eleven stone in nine months, told ITV Central that the key to her success is as simple as ten minutes worth of exercise a day.
A mum of two from Tamworth is half the person she used to be after losing eleven stone in nine months.Read the full story ›
Following an appeal on Central Tonight the Steps charity has received around £20,000.
The charity provides support to children with motor disorders and their families to help them lead a fuller more active life.
The charity's patron the diet and fitness guru Rosemary Conley, told Central last month that there was only enough money left to pay staff for one more month and they might have to close. Now the charity say they're not out of the woods but have a little breathing space.