Aletheia Clinic, a prominent medical hair removal chain, filed for bankruptcy Tuesday, plunging tens of thousands of customers into financial limbo in what is the largest collapse ever recorded in Japan’s beauty industry.
Joint operators Mijitsukai and Yazakurakai submitted their bankruptcy applications to the Tokyo District Court on Tuesday, which approved the filings the same day, according to a statement posted on the clinic’s official site. All locations immediately ceased operations.
Mijitsukai owes ¥7.29 billion ($48.09 million) to 57,498 creditors, while Yazakurakai has liabilities of ¥5.17 billion owed to 34,320 creditors — a combined total of nearly ¥12.4 billion. Approximately 92,000 customers will be impacted by the sudden closure, according to a report Tokyo Shoko Research released.
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