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3w ago

WeightWatchers Files for Bankruptcy to Restructure $1.15 Billion Debt

The 62-year-old company plans to emerge in 45 days as a telehealth-focused business while maintaining services for its 3.3 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)
A sign for Weight Watchers is displayed at office in lower Manhattan, New York October 19, 2015.

Overview

  • WW International, formerly WeightWatchers, filed for Chapter 11 bankruptcy on May 6, aiming to eliminate $1.15 billion in debt while continuing operations.
  • The company expects to complete the restructuring process in approximately 40–45 days, emerging as a publicly traded entity with support from its lenders and noteholders.
  • WeightWatchers has struggled to compete with the rising popularity of GLP-1 weight-loss drugs, including Ozempic and Wegovy, which have disrupted its traditional business model.
  • The 2023 acquisition of telehealth platform Sequence marked a strategic pivot toward prescribing weight-loss medications, with clinical subscription revenue increasing 57% year-over-year in Q1 2025.
  • CEO Tara Comonte emphasized the company's commitment to innovation and member-focused solutions, ensuring no disruption to services during the reorganization.