We know times are tough, but the news from the global spa network Spa Chakra Inc., might be a bad sign for the spa industry. Today Spa Chakra Inc. announced that it is filing for bankruptcy and is in the process of selling all of its assets to Hercules Technology Growth Capital Inc.

As part of the filing, Spa Chakra has arranged for immediate financing from Hercules, which will be used by Spa Chakra to fund normal business operations during the sale process. Spa Chakra also said it has received the Court approval to honor and fulfill gift card and customer loyalty programs, and pay its employees, so make sure to use your gift cards now!

Here’s two other posts mentioning Spa Chakra:

http://talkspas.com/tag/canyon-ranch-spaclub/

http://talkspas.com/2009/11/17/spafinders-2009-readers-choice-awards/

Tags: spa chakra, spa closing, spa product manufacturer closing, spas closing

This entry was posted on Tuesday, December 15th, 2009 at 5:32 pm and is filed under Spa Reflections - Experiences, Rituals, History. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.