Creditors have decided that what remains of a limping beauty chain will remain in business as they seek to recover a percentage of their debts.
Last month, news.com.au reported that Body Catalyst, a non-surgical cosmetic medicine chain with clinics across NSW, Victoria and Queensland, had gone into voluntary administration.

Then a week ago, this publication revealed that 26 clinics had collapsed into liquidation, with just 16 remaining at the embattled group of companies.

On Tuesday afternoon, creditors held the fate of Body Catalyst in the palm of their hand, deciding whether the remaining stores should continue operating or whether they too should shut down permanently.

They voted on a Deed of Company Arrangement (DOCA), which is where Body Catalyst founder and former CEO Samantha Barakat Light offered to pay a certain amount of money to take the 16 stores out of external administration.

Under the proposed DOCA, which has now been accepted, staff will receive 100c for every dollar owed while unsecured creditors will get 3.2c.

Body Catalyst owed $5.3 million to unsecured creditors and a further $3.2 million owed to secured creditors, the administrators told news.com.au. That comes in at a total of $8.5 million.