Iatria Spa and Health Center is shutting down after 10 years in business and closing its remaining three locations in Wake County.
Iatria Chairman Erika Mangrum said in a statement that the company could not overcome a recession-induced slowdown in business and the lack of available capital caused by the credit crunch.
“We thank our clients, employees and vendors for their support over the years. As we work through this challenging time, please know that we are making every effort to minimize the impact on those groups,” she stated.
Iatria had closed its spa in downtown Raleigh in 2008, and the company will be closing its flagship location on Creedmoor Road in north Raleigh, as well as smaller locations at Wakefield and in Cary.
