The Wall Street Journal reports that the company, which claims to offer a “minor one-hour procedure with major results,” abruptly shut down a majority of its 40 surgery centers Monday and announced it would consider filing for bankruptcy.
Lifestyle Lift, often featured in informercial-like advertisements claiming to allow consumers to “look as young on the outside as you feel on the inside,” specializes in less-invasive facelift procedures that require only local anesthesia and short recovery periods.
In a letter sent to employees over the weekend, Dr. David Kent – the founder of the company – said he made the “decision to temporarily cease operations until further notice.”
“The future of the Company is uncertain and therefore it is currently developing both a wind-down plan to close the business and a reorganization plan to accommodate a new investment,” the letter states.
Initial filings reveal this to be a Chapter 7/No Assets bankruptcy, suggesting that Lifestyle Lift does not intend to restructure its debt and continue operations, thereby ending the company’s controversial 14-year career.