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- WeightWatchers files for bankruptcy (foxbusiness.com)
Weight Watchers, the iconic weight-loss program, has filed for Chapter 11 bankruptcy protection. The move comes as the company grapples with a changing weight-loss landscape, dominated by the rise of prescription weight-loss drugs.
WW International Inc., the parent company of Weight Watchers, emphasized that the restructuring aims to eliminate $1.15 billion in debt and position the company for future growth. CEO Tara Comonte assured members that the bankruptcy filing will not disrupt their weight-loss journeys, stating that all programs will remain fully operational.
While the company’s stock has ceased trading on the Nasdaq, Weight Watchers expects to re-emerge as a publicly traded company after the reorganization process is complete.
Founded in the 1960s, Weight Watchers revolutionized the diet industry with its innovative programs. The brand even attracted celebrity endorsements, most notably from Oprah Winfrey, who partnered with the company in 2015 but left the board in 2024.
However, recent years have been challenging for Weight Watchers. The booming popularity of weight-loss drugs has significantly disrupted the market, with Morgan Stanley Research projecting the global market for these medications to reach as high as $144 billion by 2030.
In an attempt to adapt, Weight Watchers acquired the telehealth platform Sequence, rebranded as WeightWatchers Clinic, to offer access to clinicians specializing in obesity and prescription weight-loss medications. The platform also offers virtual and in-person workshops. Despite these efforts, the company continued to face difficulties, including the abrupt departure of former CEO Sima Sistani in September 2024.
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- WeightWatchers files for bankruptcy (foxbusiness.com)