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3w ago

WeightWatchers Files for Chapter 11 Bankruptcy to Restructure $1.15 Billion Debt

The company plans to complete its reorganization within 45 days while maintaining uninterrupted services for its 3 million members.

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Die Diätwelt steht vor einem Paradigmenwechsel: Abnehmspritzen erobern den Markt und stellen traditionelle Methoden in den Schatten.
General view of Weight Watchers located at 5339 La Tijera Blvd. in the wake of the coronavirus COVID-19 pandemic, Thursday, March 19, 2020, in Los Angeles. (Jevone Moore/Image of Sport) Photo via Newscom picture alliance

Overview

  • WW International, known as WeightWatchers, has filed for Chapter 11 bankruptcy protection to eliminate $1.15 billion in debt and reorganize its finances.
  • The move is supported by nearly 75% of its creditors and aims to position the company for long-term growth through its telehealth services initiative.
  • The rise of weight-loss drugs like Ozempic and Wegovy has significantly disrupted the traditional WeightWatchers business model, contributing to financial struggles.
  • WW International assures its 3 million global members that services, including its telemedicine platform and wellness programs, will continue without interruption.
  • The company's stock price dropped over 50% to $0.34 in after-hours trading following the bankruptcy announcement.