Jenny Craig's Australian and New Zealand operations is closing down after administrators failed to find a buyer for the weight-loss company's physical stores.

FTI Consulting, who were appointed as administrators for the company on May 9, said Jenny Craig Australia and NZ would immediately cease trading from its stores and employees would be made redundant. 

"Administrators have today advised all of the employees in Australia New Zealand that a sale of the business with the stores continuing to trade and staff continuing their employment has not been achievable," FTI Consulting said in a statement.

No buyer could be found despite 15 interested parties participating, four of which submitted non-binding indicative offers, according to FTI Consulting.

"This has resulted in a decision to immediately cease trading from stores and employees being made redundant, which is an unfortunate outcome and one which the Administrators had sought to avoid."

Administrators said the online capacity of the business will be sold to healthcare technology company Eucalyptus, which will continue to offer online weight-loss solutions to customers.

Jenny Craig Australia and New Zealand entered voluntary administration on May 9, less than a week after saying it would continue its local operations in the wake of the United States business filing for bankruptcy.

Jenny Craig was founded in Melbourne in 1983 by American couple Jenny and Sid Craig, who moved to Australia after signing a two-year non-compete clause related to the sale of another business in the US.