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2d ago

WW International Files for Bankruptcy to Restructure $1.15 Billion in Debt

The company, formerly WeightWatchers, plans to emerge as a publicly traded entity within 45 days while maintaining services for its three million members.

FILE - This image shows the logo of WeightWatchers on a mobile phone, and the company's website, in New York, March 7, 2023. (AP Photo/Richard Drew, File)
Weight Watchers International Inc. food products are displayed for a photograph in New York in February 2016.
Founder and director of Weight Watchers Inc. Jean Nidetch in 1965.
Weight Watchers (Shutterstock)

Overview

  • WW International has filed for Chapter 11 bankruptcy as part of a prepackaged plan to eliminate $1.15 billion in debt and strengthen its financial position.
  • The company will continue normal operations for its more than three million members during the restructuring process.
  • WW expects to emerge from bankruptcy in approximately 40–45 days, remaining a publicly traded company.
  • The rise of GLP-1 medications like Ozempic and past strategic missteps, including a failed telehealth pivot, contributed to the company's financial struggles.
  • CEO Tara Comonte emphasized the company's commitment to innovation and delivering science-backed, community-oriented weight management solutions.