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4d ago

WW International Files for Chapter 11 Bankruptcy to Eliminate $1.15 Billion in Debt

The company plans to restructure within 45 days, maintaining operations for 3.3 million members while pivoting further into telehealth and weight-loss drug services.

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 scale. Photo by TeroVesalainen/Pixabay

Overview

  • WW International, formerly WeightWatchers, has filed for Chapter 11 bankruptcy to eliminate $1.15 billion in debt and strengthen its financial position.
  • The company expects to complete its court-supervised restructuring process within 40–45 days and remain publicly traded afterward.
  • Operations for its 3.3 million members will continue uninterrupted, with no changes to its services during the restructuring period.
  • The rise of GLP-1 weight-loss drugs like Ozempic and Wegovy has disrupted WW's traditional points-based programs, prompting a pivot to telehealth services through its 2023 acquisition of Sequence.
  • CEO Tara Comonte emphasized the company’s commitment to innovation and delivering holistic, science-backed weight-management solutions amid a rapidly evolving industry landscape.