Interactive Health files for Chapter 7 bankruptcy
Schaumburg-based employee wellness company Interactive Health has filed for Chapter 7 bankruptcy protection, according to reports.
The company filed the Chapter 7 petition in Delaware federal court Sunday, claiming is has between 1,000 and 5,000 creditors and between $100 million and $500 million in assets.
A Chapter 7 bankruptcy seeks the dissolution of the company in order to pay creditors.
Founded in 1990, the company provided employee wellness services and consulting for businesses. In 2015, San Francisco-based private equity firm Friedman Fleischer & Lowe LLC acquired Interactive Health for an undisclosed sum, according to legal news service Law360. At that time, the firm claimed Interactiev Health was the largest company in the U.S. to offer businesses "integrated workplace wellness solutions," employing more than 1 million people, according to the Law360 report.
While Interactive Health's website was running Tuesday, a search of the company online indicated it was "permanently closed." Phone calls and emails to the business were unanswered.
A meeting of the creditors is set for July 8, according to Law360.