OTHER NEWS - May 7, 1993
From Times Staff and Wire Reports
Time Running Out on Nutri-Systems Inc.: A U.S. Bankruptcy Court judge in Philadelphia said he would appoint a trustee to run the company unless Nutri-System’s current owners came up with a buyer for the debt-ridden weight-loss company today. The company closed its 283 company-owned diet centers last week after banks seized its bank accounts and impounded food supplies. The company’s 857 franchises have remained open, but resuming food shipments has been a concern. Bob Ives, chief financial officer of a Los Angeles-based investment group that owns 87 franchises, said his firm has on hand a four- to six-week food supply.
