Arbonne files for bankruptcy protection
Natural Products Group, parent company to direct selling company Arbonne International has filed for Chapter 11 bankruptcy protection in the United States.
In theory this simply allows the company to restructure and continue operations, but with liabilities ($804 million) outstripping assets ($286million) and revenues ($450 million in 2008) it’s going to be tough. Indeed, documents suggest the debtors have now taken a majority stake in Arbonne – I’ve not yet established who they are, so it will be difficult to judge what their future goals with the company may be.
In an interesting but perhaps rather belated PR move the company has launched a blog today. Nothing but an opening posts as yet but I imagine there’ll be some damage control going on once the news gets out.
My thoughts and best wishes with the many, many Arbonne reps around the world who must be nervous with the news.
UPDATE: Arbonne has some information and a video from CEO Kay Napier on their website.
Hi, I’m an entrepreneur, former scientist, ex athlete, partner to a wonderful lady and father to a great son. I’m also a passionate supporter of the concept of MLM and network marketing. |
Arbonne changes lives! Always has! Always will! Keep you eyes on us, but you’ll have to wear your sunglasses. We’re going to shine through the phase of our business!