Have all those late night ads sent Guthy Renker Australia to the wall?
Advertisements including beauty products by Victoria Principal and Cindy Crawford screen on Nine from about 2am, but the Australian arm of the US-based marketing giant, generated a net loss of $15 million last year, claims news.com.au.
When the company balanced its books on December 28 it had a net asset deficiency of more than $17.8 million.
Guthy Renker Australia is continuing to trade because of support provided by its US shareholders Guthy Renker LLC and Global Synergy International.
The losses are believed to be affect by a surge in general costs such as advertising and $7.4 million in foreign currency losses.
If Victoria’s Beauty Principal products don’t send you to the wall, beware of possible side effects. She was recently reported as pulling a hand-gun on a maid after a dispute with a former employee.
Source: Herald Sun