Singaporeans pick up Healthzone | IR News

Singaporeans pick up Healthzone

Posted Date: 03/02/2012

By Inside Retail

The receivers and managers of failed beauty products wholesaler and retailer Healthzone say they have sold the majority of the business.

PPB Advisory said Friday it had entered into a conditional agreement with Eu Yan Sang Australia, for the sale of the majority of businesses and assets of Healthzone Limited and its related entities.

Healthzone is a natural health and beauty products distribution and retail business with franchise and company-owned stores operating across Australia.

The sale of these businesses and assets by PPB Advisory will ensure the Healthzone business can continue operating with certainty.

“We are very pleased to provide a positive and timely outcome with the sale of the majority of Healthzone’s businesses. This is a great result for continuing franchisees, employees,
customers and suppliers of the business” said Phil Carter of PPB Advisory.

“The sale of the majority of businesses means that Healthzone’s network of retail stores and its extensive distribution channels can now continue to operate with certainty and stability.”

Eu Yan Sang Australia Pty Limited is a wholly owned subsidiary of Eu Yan Sang International, which is a Singaporean listed company.

Phil Carter and Chris Hill of PPB were appointed receivers and managers of Healthzone and its related entities on November 17, 2011.

Keywords: Healthzone

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