Jenny Craig Reportedly Shutting Down All Operations After Four Decades

Jenny Craig, the weight loss and nutrition business, will reportedly close its doors “due to its inability to secure additional financing”

Jenny Craig, the weight loss and nutrition business, is closing its doors after four decades, according to internal communications obtained by NBC News.

The company reportedly announced to employees in an email late Tuesday that they are shutting down "due to its inability to secure additional financing."

PEOPLE has reached out to Jenny Craig for comment.

The decision comes less than a week after Bloomberg reported that the company had about $250 million of debt and was considering a bankruptcy filing if efforts to find a buyer for its assets failed.

Jenny Craig — which was founded in 1983, has 500 weight-loss centers in the United States and Canada, and boasts "millions of successful Jenny members" — said that Friday will be the last day for corporate and salaried field employees while this past Tuesday was the last day for hourly center employees, NBC reports.

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Last week, a spokesperson for Jenny Craig told CNN that the company was simply cutting back on its physical operations and transitioning to an e-commerce model, noting that there would be potential layoffs as a result.

"Like many other companies, we're currently transitioning from a brick-and-mortar retail business to a customer-friendly, e-commerce driven model. We will have more details to share in the coming weeks as our plans are solidified," the spokesperson said in a statement.

According to NBC, employees were unaware of the company's downward spiral.

In the termination letter, Jenny Craig reportedly told employees that they will receive a "final paycheck, including your full compensation earned through your last day of work and all accrued, unused paid time off."

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