Weight Watchers Pursues Bankruptcy for Transformation

Weight Watchers International is seeking bankruptcy protection to restructure its substantial debt of $1.15 billion. Faced with increasing competition from weight-loss medications and fitness apps, the 62-year-old company aims to pivot towards telehealth services.

The rise of new weight-loss drugs has strained its traditional diet model, leading to a decline in revenue. Under the Chapter 11 plan, Weight Watchers intends to eliminate its debt and attract new investment, allowing it to innovate and better serve its members.

Existing shareholders will retain a minority stake as the company embarks on this critical transformation. With the bankruptcy process expected to conclude in about 45 days, Weight Watchers is determined to reposition itself in the evolving weight management market.