Botox empire with 16 cosmetic clinics goes bankrupt after founder’s sudden death — and 138 complaints from unhappy customers
- Cosmetic chain goes bankrupt
- Hundreds of customers remain out-of-pocket
A chain of cosmetic clinics has collapsed after the sudden death of its owner, leaving hundreds of irate customers waiting for procedures out of pocket.
Injectable Institute Australia (IIA), famous for its botox injections, operated 16 cosmetic clinics across Sydney before it went bankrupt on March 14.
Liquidators of Cor Cordis were appointed to IIA by the NSW Supreme Court following an application for liquidation by IIA manager Juliet Young.
Ms Young filed the application in February, a week after the funeral of owner and sole director, Michael Zillig, who died on January 29 at the age of 56.
Injectable Institute Australia (IIA) owner and sole director Michael Zillig died ‘suddenly’ on January 29, aged 56
In February, IIA customers received text messages saying the company was closing due to the owner’s death.
NSW Fair Trading received 138 complaints about IIA in the same month – making it the most complained company in the entire state, the Daily telegram reported.
Mr. Zillig was originally from the Victorian town of Kyneton and, according to a funeral notice in a local newspaper, he had ‘deceased suddenly’.
He was an accountant and partner in Sydney at Lowensteins Arts Management.
IIA was registered as a company in 2015 and has clinics in the Sydney CBD, the Sutherland Shire, the NSW Central Coast and Macarthur.
Cor Cordis said it is “continuing to quantify the company’s debts” and a creditors’ report will be released by June.
The manager of the Injectable Institute Australia, Juliet Young, filed for liquidation in February
“There are currently no office holders of the company – the sole director and shareholder has passed away,” a spokeswoman said.
‘The company is bankrupt.’
A Facebook group of frustrated customers includes posts from people claiming they owe as much as $8,900 for treatments paid for but not provided.
It has been reported that 165 people have already filed a claim with Cor Cordis, although this figure has not been confirmed.
The Facebook group was set up with the aim of rallying support for a class action, and the group’s organizer said they were in talks with lawyers.
The group has 235 members to date, and many have claimed they’ve been able to get refunds through a bank chargeback.
On Feb. 22, Cor Cordis posted a message on The IIA’s Facebook page informing customers that the company had ceased trading and claims could be submitted via email.
The post elicited nearly 200 comments, mostly from annoyed customers who had spent hundreds or thousands of dollars on future treatments.