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Nutri System Inc

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BUSINESS
November 9, 1991
Nutri-System Settles Lawsuits: The weight-loss company said it has settled 189 suits filed by women who charged that they developed gallbladder problems while on the company's diet. Terms of the settlement were not released. "These claims or lawsuits are over, and we have no further comment," Nutri-System Inc. spokesman Tim Smith said. One suit remains unresolved.
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BUSINESS
August 29, 2000 | MELINDA FULMER, TIMES STAFF WRITER
With more Americans indulging in rich foods, "diet" has become a dirty word to most food manufacturers, including Glendale-based Nestle USA, which Monday announced plans to sell off its line of Sweet Success diet drinks and bars. The company said it would sell the low-calorie products line to diet e-commerce Web site Nutrisystem.com for 900,000 shares of Nutrisystem stock, or 3% of the company.
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BUSINESS
May 11, 1993 | DENISE GELLENE, TIMES STAFF WRITER
The confusion surrounding Nutri-System Inc., the debt-ridden chain of weight-loss centers, deepened Monday when its pending sale to a Chicago investment firm ran into unexpected opposition. Nutri-System court-appointed trustee John T. Carroll said Monday that he intends to fight the sale to Chicago-based Heico Acquisitions because it doesn't cover the debt owed to unsecured creditors. Carroll said the unsecured creditors, a group which includes employees, are owed $8 million to $10 million.
BUSINESS
December 29, 1993 | BRIAN RAY BALLOU, TIMES STAFF WRITER
A Chicago-based holding concern Tuesday acquired the debt-ridden Nutri-System weight-loss company, ending Chapter 11 bankruptcy proceedings that had forced the temporary closure of 282 company-owned centers and disrupted operations of some Nutri-System franchises. Heico Inc., whose chairman, Michael E. Heisley, served as chairman of Blue Bell, Pa.
BUSINESS
October 1, 1993 | DEAN TAKAHASHI, TIMES STAFF WRITER
The owners of the Nutri-System diet center franchise for Orange County are expanding and are also reopening some centers in the greater Los Angeles area that were closed in May. Parent company Nutri-System Inc., based in Blue Bell, Pa., shut down 283 company-owned diet centers across the nation after creditors pushed the company into involuntary bankruptcy proceedings. Last week, however, a U.S.
NEWS
June 9, 1991 | From Associated Press
A federal judge has ordered a national diet plan to halt an advertising campaign boasting that it outranked other weight-loss programs in a Stanford University research project. U.S. District Judge D. Lowell Jensen issued a temporary restraining order Friday ordering Nutri-System to stop all advertising using Stanford's name and seal. The university's lawyer said the ads "cheapened and soiled" the Stanford name. Stanford sued Nutri-System Inc.
BUSINESS
April 30, 1993 | DENISE GELLENE, TIMES STAFF WRITER
Nutri-System Inc. was said to be negotiating with potential buyers Thursday as it sought a way out of the financial mess that forced it to abruptly close 280 company-owned diet centers across the country, including about 40 in the greater Los Angeles area. The company was thrown into corporate chaos late Wednesday when its bankers seized the troubled company's cash and took control of its bank accounts. The company immediately sent its 1,800 employees home indefinitely.
BUSINESS
August 29, 2000 | MELINDA FULMER, TIMES STAFF WRITER
With more Americans indulging in rich foods, "diet" has become a dirty word to most food manufacturers, including Glendale-based Nestle USA, which Monday announced plans to sell off its line of Sweet Success diet drinks and bars. The company said it would sell the low-calorie products line to diet e-commerce Web site Nutrisystem.com for 900,000 shares of Nutrisystem stock, or 3% of the company.
BUSINESS
October 16, 1989 | ALAN CITRON, TIMES STAFF WRITER
When Los Angeles Dodgers manager Tommy Lasorda shaved nearly 40 pounds off of his famous frame this year in a highly publicized wager with his players, there were two big winners. One was a group of Nashville nuns who received the proceeds from the $50,000 bet. The other was Lasorda, who was hired as a pitchman for the liquid diet supplement he used.
BUSINESS
October 1, 1993 | DEAN TAKAHASHI, TIMES STAFF WRITER
The owners of the Nutri-System diet center franchise for Orange County are expanding and are also reopening some centers in the greater Los Angeles area that were closed in May. Parent company Nutri-System Inc., based in Blue Bell, Pa., shut down 283 company-owned diet centers across the nation after creditors pushed the company into involuntary bankruptcy proceedings. Last week, however, a U.S.
BUSINESS
May 11, 1993 | DENISE GELLENE, TIMES STAFF WRITER
The confusion surrounding Nutri-System Inc., the debt-ridden chain of weight-loss centers, deepened Monday when its pending sale to a Chicago investment firm ran into unexpected opposition. Nutri-System court-appointed trustee John T. Carroll said Monday that he intends to fight the sale to Chicago-based Heico Acquisitions because it doesn't cover the debt owed to unsecured creditors. Carroll said the unsecured creditors, a group which includes employees, are owed $8 million to $10 million.
BUSINESS
May 7, 1993 | From Times Staff and Wire Reports
Time Running Out on Nutri-Systems Inc.: A U.S. Bankruptcy Court judge in Philadelphia said he would appoint a trustee to run the company unless Nutri-System's current owners came up with a buyer for the debt-ridden weight-loss company today. The company closed its 283 company-owned diet centers last week after banks seized its bank accounts and impounded food supplies. The company's 857 franchises have remained open, but resuming food shipments has been a concern.
BUSINESS
April 30, 1993 | DENISE GELLENE, TIMES STAFF WRITER
Nutri-System Inc. was said to be negotiating with potential buyers Thursday as it sought a way out of the financial mess that forced it to abruptly close 280 company-owned diet centers across the country, including about 40 in the greater Los Angeles area. The company was thrown into corporate chaos late Wednesday when its bankers seized the troubled company's cash and took control of its bank accounts. The company immediately sent its 1,800 employees home indefinitely.
NEWS
June 9, 1991 | From Associated Press
A federal judge has ordered a national diet plan to halt an advertising campaign boasting that it outranked other weight-loss programs in a Stanford University research project. U.S. District Judge D. Lowell Jensen issued a temporary restraining order Friday ordering Nutri-System to stop all advertising using Stanford's name and seal. The university's lawyer said the ads "cheapened and soiled" the Stanford name. Stanford sued Nutri-System Inc.
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