Tag Archive for Out Of Business

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7K Metals Announces Transition to Direct Retail and Affiliate-Driven Model

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Idaho Falls, ID – 7K Metals today announced a strategic transition from a network marketing model to a direct retail and affiliate-driven model.
In a company press release, the transition was described by 7k Metals’ company leadership as part of an effort to respond to evolving marketplace dynamics while broadening access to precious metals ownership.
Under the new structure, the company will discontinue its multi-level compensation model and move toward an affiliate framework designed to emphasize product education and direct customer relationships.

“Our mission has always been to get gold and silver into the hands of those who need it most,”

said 7K Metals CEO Blake Davis.

“By simplifying our model, we are making participation easier and more aligned with where the global marketplace is heading. We are removing the complications of legacy compensation structures and replacing them with a framework that is more accessible, more sustainable, and ultimately better for the vast majority of people involved.”

Founded in 2016 and headquartered in Idaho Falls, 7K Metals had grown from a tight-knit coin collecting community and company, into a global precious metals platform serving tens of thousands of customers around the globe.
The transition marks a structural shift in the company’s distribution model as it moves away

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Ruby Ribbon Announces It Will “Wind Down Business”

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Ruby Ribbon recently announced it will begin shuttering operations and will officially close August 25, 2025.
For more than a decade, Ruby Ribbon has been on a mission to help women feel more confident, comfortable, and supported—starting with the simple act of replacing your bra. But what we created together grew into something much more powerful.
The company wrote in a statement,
“Today, with a heavy heart, we are letting our community know that Ruby Ribbon will begin the process of winding down our business.”
Here’s what to know:

Any open parties will be closed, and reward coupons emailed to qualifying Hostesses.
Our full collection is available to shop while supplies last.
The Essential Bundle offer is still available: purchase two or more of our core styles and receive 10% off automatically.
If you are holding a Ruby Ribbon gift card, it will continue to be accepted for purchases.

“This incredibly difficult decision was shaped by the many challenges facing today’s economy and retail landscape. With deep appreciation for your support and loyalty, we wish you comfort, compassion and empowerment…just as you have helped us foster through the years,”
the company wrote in a statement.
ABOUT RUBY RIBBON
Ruby Ribbon is a shapewear and fashion company that sells its products exclusively through

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Modere Announces Immediately Closure After 23 Years

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After 23 years in business, Modere officially announced it will be immediately closing. The company shared the news in a statement on its corporate website.
The statement on Modere.com read:

“After 23 wonderful years of serving our cherished community, we’ve made the difficult decision to close our doors.
“We’re incredibly grateful for your support, trust, and loyalty over the years. Whether you’ve been with us from the beginning or just discovered us recently, thank you for being a part of our story.
“From all of us at Modere — thank you. It’s been an honor.”

Our thoughts and prayers go out to all of the many families affected by the sad news of this closure.
About Modere
Modere is a global, award-winning leader in clean-label health, wellness, and personal care products. With a pioneering approach to social selling, Modere has redefined direct sales through its innovative Social Retail model.
Dedicated to innovation, sustainability, and customer-first solutions, Modere continues to lead the way in delivering safe, effective, and eco-friendly products that inspire people to live healthier lives. For more information please visit www.modere.com
The post Modere Announces Immediately Closure After 23 Years appeared first on Direct Selling Facts, Figures and News.

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Modere Announces Closure After 23 Years

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After 23 years in business, Modere officially announced it will be closing. The company shared the news in a statement on its corporate website.

The statement on Modere.com read:

“After 23 wonderful years of serving our cherished community, we’ve made the difficult decision to close our doors.
“We’re incredibly grateful for your support, trust, and loyalty over the years. Whether you’ve been with us from the beginning or just discovered us recently, thank you for being a part of our story.
“From all of us at Modere — thank you. It’s been an honor.”

Our thoughts and prayers go out to all of the many families affected by the sad news of this closure.
The post Modere Announces Closure After 23 Years appeared first on Direct Selling Facts, Figures and News.

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Epicure Closed Down After 32 Years

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According to posts circulating social media, including on Facebook from the company’s ambassadors, a long-time canadian company that sells healthy, nut-and-gluten-free kitchen and food products globally is ceasing operations.
On Friday, Jan. 24, screenshots of an email sent to ambassadors by Epicure founder Sylvie Rochette, announced the closure of the 32-year-old company.

“This was not a choice made lightly, but one born from the weight of financial challenges many in the industry have experienced following the pandemic,” noted the email.
“Despite our relentless commitment to our mission of promoting healthier living and supporting time-starved families in creating nourishing meals together, we sadly were unable to recover.”

The email noted that the company will work with MNP – an accounting, tax and business consulting firm – to determine the next steps following the closure. The Epicure website, along with some of their social media accounts, are now defunct.
Ambassadors of the company will receive further information in the next five business days, according to the email.
According to their LinkedIn, all of Epicure’s products are designed, manufactured and shipped out from its office in Canada. The company employed over 170 people in creative & marketing, research & development, finance, HR, IT, customer experience, sales, operations and

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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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