Tag Archive for Out Of Business

Hot Business News Today

Beach Body (Bodi) Closes Network Marketing Model – Leaders Screwed Out Of Commissions

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Notification for BODi Partners in the United States
Dear BODi Partner,
We cannot thank you enough for your hard work supporting the BODi mission of helping people achieve their goals and lead healthy, fulfilling lives. One workout and one glass of Shakeology at a time, we worked together to improve countless lives.
As you may have already seen in the “Important Team BODi Update” video Carl posted in the Roundtable and BODi Basics groups on the BODi Partner app,

“current market conditions no longer support our ability to continue operating Team BODi in a network marketing/multi-level marketing business model. But rather than shutting down Team BODi, we want to continue to improve as many lives as we can together and offer an ongoing income opportunity that has the ability to be even more successful in the current marketplace.”

For this, we will officially begin to transition our structure to a single-level affiliate model on November 1, 2024, and our current Team BODi network marketing business will complete transition to this affiliate model as of January 1, 2025.
We will provide you more details on how you can join the most exciting affiliate opportunity in health and fitness history as we get closer to November 1st as

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Avon Products Files For Bankruptcy

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Avon Products, Inc. (“API”), a U.S.-based non-operational holding company of the Avon beauty brand, today announced that it has initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to address its debt and legacy talc liabilities.
API has not sold products in the U.S. since it divested its North America business in 2016 but remains the holding company of the brand’s non-U.S. operating entities.
Avon’s operating businesses outside the U.S., which continue to advance on strategic initiatives, are not part of the Chapter 11 proceedings, and it is business as usual in Avon’s international markets.

Brazil-based Natura &Co (B3 – NTCO3), which acquired Avon in 2020, has entered into an agreement to purchase the equity interests in Avon’s non-U.S. operations for $125 million in the form of a credit bid, subject to a Court-supervised auction process.

Reflecting its continued belief in the Avon brand, Natura &Co has committed up to $43 million in debtor-in-possession financing that, subject to Court approval, will provide sufficient liquidity to fund API’s obligations during the sale process.
John Dubel, API’s Chairperson, said,

“Today’s action and the proposed sale of Avon’s non-U.S. operations will maximize the value of our assets and enable us to address our

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iX Global Announces it Will Cease Operations After 4 Years in Business

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iX Global, launched in 2020 mid-pandemic with the mission to innovate, inspire and impact people globally. iX, led by marine veteran Joe Martinez, started with a focus on personal development and quickly grew into a global community during a challenging time for professionals in the network marketing industry due to the lockdowns.
As the company gained momentum and expanded internationally, the focus turned more into financial education, housing a multi-lingual team of trading educators. 
In 2022 iX Global started venturing into the distribution of blockchain technology products which pushed the growth of the community and of the revenue. And raising the flag of innovation and with a motto of freedom and decentralization, iX achieved top rankings in the industry, creating a powerful leadership community and top industry earners.
After 3 years of successful operations, hundreds of millions of dollars in revenue and paid commissions, hundreds of thousands of lives around the world had been impacted, by the community, by the education, by the business, and by the products.
But their momentum was about to take a hit, as fresh out of a successful expansion phase, in June 2023, iX Global was enjoined in a lawsuit against a third-party product. A messy performance

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BeautyCounter Might Leave The Network Marketing Channel

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The chaos around BeautyCounter continues as the company stated:

“We know that there was a lot of information shared yesterday. Information that was difficult, and that many of you are still processing. We thank you for your time and support as we navigate these uncharted territories.
As shared on the call, we have been in contact with the CEO of Arbonne so you can learn about an opportunity with them for you and your teams to explore, as a place to softly land during this time.
As a B-corp with a highly regarded, long-standing reputation in the industry, we would like to invite you to learn more about their company and how they will be welcoming our leaders to their community should you choose.”

While former CEO and Founder Gregg Renfrew stated:

“Something new is on the way. We are currently ​working ​to build a new company but don’t worry, we’ll be back later this year with the safer, high-performing products you know and love, as well as some other surprises.”
Despite our tireless efforts over these past few weeks, G2G (The company I formed, which recently purchased certain BeautyCounter assets, in a foreclosure sale) will not be able to launch operations as soon as we

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Beautycounter Terminates All MLM Distributors, Shutting Down

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Beautycounter founder and CEO Gregg Renfrew left the company in January 2023. In 2022, Beautycounter named Marc Rey as CEO while Renfrew became the company’s Executive Chair and Chief Brand Officer. In June 2023, Mindy Mackenzie has been appointed interim chief executive officer.
In a review about the company we noticed that Beautycounter failed to regularly offer press releases, lacks transparency in its financial matters, and doesn’t boast well-known top earners with clear visibility.
In a confidential email to its distributor force Beautycounter stated today:
“Dear Brand Advocate,

This email constitutes written notice of the termination of your Brand Advocate Agreement with Counter Brands, LLC (d/b/a Beautycounter) (the “Company”), effective as of April 17, 2024 (the “Termination Date”).
In connection with a sale, the Company is shutting down its operations and intends to wind-down and dissolve in the near-term. You will receive payment of all accrued and unpaid commissions through the Termination Date, and you shall otherwise have no further rights to any bonuses, commissions, or other compensation tollowing the Termination Date.
Payment is expected to be made on or about April 26, 2024. From and after the Termination Date, you shall not hold yourself out as a Company brand advocate or as

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Partylite Abandon Direct Selling in The USA and Canada

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After half a century of pioneering success in the Direct Selling sector, Luminex Home Décor & Fragrance proudly announces a strategic shift for its PartyLite North America market, transitioning it from a Direct Selling/Affiliate model to a modern and consumer-centric approach with the adoption of a Direct-to-Consumer (DTC) model with a new and innovative Brand Ambassador program, poised to generously support its field of PartyLite Affiliates. This transition is anticipated to be effective March 1, 2024.
Legacy of Excellence
PartyLite has been a direct selling trailblazer and the #1 global party plan company offering candles, home fragrance and décor for five decades, establishing itself as a leader with an unwavering commitment to quality, innovation, field support, and customer satisfaction.
Throughout the years, the company has navigated rapidly changing market landscapes and evolving consumer preferences with resilience and adaptability.
The decision to transition to a DTC model is a natural progression for the North America market, aligning with PartyLite’s tradition of staying at the forefront of industry and market trends. This transformation is a testament to our willingness to embrace change while staying true to the core values that have defined us for half a century.
Adapting to Consumer Changes
Through the years, PartyLite has demonstrated an

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Lyoness AG Files For Bankruptcy

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Lyoness International AG and Lyoness Europe AG: Insolvency proceedings initiated for both companies – national companies to continue operations as before.
Insolvency proceedings have been commenced in respect of Lyoness International AG and Lyoness Europe AG, both of which are officially headquartered in Buchs, Switzerland. The insolvency proceedings pertain solely to these two companies.
The Lyoness national companies, which operate a shopping community for consumers and participating partner companies independently of each other in the respective countries, will continue their operations as before.
Existing Lyoness members of the individual national companies will, therefore, continue to receive the usual purchase benefits when they shop at Lyoness partner companies.
Christopher Thomson, president of the administrative board of Lyoness International AG and Lyoness Europe AG explained:

“Over the last few years the pandemic, energy crisis and inflation have left deep marks in our company. Regretfully, the management team no longer sees itself as being in a position to continue the running of Lyoness International AG and Lyoness Europe AG in their present form.” 

About the Lyoness Group of Companies
Lyoness operates an international shopping community as well as a loyalty programme. Target groups are, on the one hand, consumers who save money by shopping with Lyoness (cashback) and, on the

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Isagenix Outstanding Debt Of $43 Million “Unsustainable”

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Moody’s Investors Service (“Moody’s”) appended a limited default “/LD” designation to Isagenix International, LLC’s (“Isagenix”) Probability of Default Rating (PDR), changing the PDR to C-PD/LD from C-PD.
The/LD designation reflects Moody’s view that Isagenix’s continued failure beyond the grace period to make its interest and principal payments that were due in September 2022 on its senior secured first lien credit facility is a limited default despite the company having entered into a forbearance agreement.
The limited default designation will remain until the company resolves the missed interest and principal payments. Isagenix’s Corporate Family Rating remains unchanged at C and the outlook remains negative.
Isagenix’s C Corporate Family Rating reflects the high likelihood of a debt restructuring based on the company operating under a forbearance agreement due to missed interest and principal payments due in September 2022. The company’s high leverage, refinancing risk driven by expiration of the revolving credit facility in June 2023, and weak operating performance as earnings continue to decline indicate the current debt structure is untenable.
Moody’s believes a deterioration in member base and weakening consumer demand is contributing to revenue declines, which combined with inflationary cost pressures is leading to significant EBITDA erosion.
Moody’s anticipates ongoing headwinds in the

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Hot Business News Today

Young Living Abandons Brasil

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According to a Young Living Press Release:
The experience of a global pandemic—and everything that came along with it—created a necessity for most businesses to reevaluate ideal conditions for sustainable growth. As a leader in our space, Young Living is no exception.
To continue our global mission to bring essential oils into every home, we have begun making necessary adjustments to strategically align our resources and focus on core business operations.
To best move forward in this new, very different world, Young Living will continue to monitor key performance indicators across all of our international markets and make necessary business decisions in the best interests of our Brand Partners, customers, and employees, including reducing force and optimizing our inventory.
In addition, while it is far from an easy call, we made the strategic decision to suspend operations for Young Living Brazil, beginning on September 30, 2022, with the last commissions being paid in October 2022. 
We take pride in our ability to adapt, learn, and grow. By lowering our operational spending now, we will secure our position in today’s uncertain economic environment.
Keeping Young Living on the trajectory of continued growth is part of our deep commitment to empowering entrepreneurs worldwide and delivering essential oils

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Amway Winding Down Operations In Russia

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According to an Amway press release:
Earlier this week, we shared with our employees and Amway Business Owners (ABOs) that Amway’s global Board of Directors has made the decision to cease operations in Russia. This follows our announcement on March 14th, 2022, on the suspension of product imports.
This is the first time in Amway’s 63-year history that we have left a market. What makes this such a heartbreaking decision is our enduring belief in offering an economic opportunity, meant for everyone.
After exploring all possible options, we have reached a point where economic, technological, organizational, and operational circumstances have made it impossible for us to operate in Russia.
Beginning July 1, we will be thoughtfully and responsibly winding down our operations there.
We are focused on providing support to those impacted by this decision; and on treating all with openness, dignity, and respect while meeting our contractual and statutory obligations.
Amway employees and ABOs in Russia have been a part of our family for 17 years and we are endlessly grateful to them for their dedication and for inspiring us with their entrepreneurial spirit.
About Amway
Amway is an entrepreneur-led health and wellness company based in Ada, Michigan. It is committed to helping people live better, healthier

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