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Archive for Wednesday, December 12, 2007

LipoDissolve company shuts offices

December 12, 2007

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— A suburban St. Louis-based chain that provided fat-reduction procedures has shut down, leaving more than 500 employees out of work.

Fig., formerly known as Advanced LipoDissolve, posted a message on its Web site saying that "due to economic conditions beyond our control," the company ceased operation Friday. Fig. closed the doors to 17 of its 18 clinics - one in Costa Mesa, Calif., is independently owned and remained open, the Web site said.

Calls on Tuesday to the corporate office in the St. Louis suburb, Maryland Heights, and to a company spokeswoman were not answered.

The Web site said, "The company is currently consulting with counsel and will likely seek legal relief under the bankruptcy code to ensure it preserves all options including the ability to reorganize and continue operations."

Patients currently undergoing treatment will be contacted by the company concerning treatment options and refund claims, the Web site said.

Fig. had grown rapidly since opening its first clinic in suburban St. Louis two years ago. In addition to St. Louis and Costa Mesa, it operated clinics in Kansas City; Las Vegas; Houston; Dallas; Atlanta; Scottsdale, Ariz.; Louisville, Ky.; and Columbus, Ohio.

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