The two firms run by fitness guru Rosemary Conley CBE have entered administration, resulting in six redundancies.
The health brands Quorn House Publishing Ltd and Rosemary Conley Food & Fitness, managed by the broadcaster, author and fitness expert and her board, intend to attract investors to move the business forward.
Six staff have been made redundant, while 26 are being retained at the company’s headquarters in Leicestershire.
Mark Hopkins, the appointed joint administrator from Elwell, Watchorn and Saxton, said: “The board has taken a responsible decision – going into early administration creates a restructuring opportunity.
“Our initial priority is to restructure the business and explore the clear potential for investment. Sadly, the process involves some difficult decisions including the need to make a number of employees redundant.”
This decision comes as a result of having invested more than a million pounds in setting up a media company which failed to generate a return and had been “draining the company’s resources” for years and a downturn in magazine sales.
The Rosemary Conley classes remain unaffected as they are run by independent franchises.
Conley said: “It is business as usual for all the classes around the country.
“But for the core business the board and I have had to make this difficult decision.
“It’s a day which the team and I have worked incredibly hard to try to avoid but the board and I believe that this is the most responsible course of action to take.
“We hope that the process of administration will give us more options and help us to transform the business through new investment”.