Weightwatchers, the virtual nutrition mark that now functions as WW International, has deposited for bankruptcy protection of Chapter 11 as it struggles to adapt to a new era dominated by weight loss drugs such as Ozempic and Wegovy.
The New York -based company announced on Tuesday that it will restructure $ 1.15 billion debt for the best position for long -term survival.
Managing Director Tara Comonte assured customers and investors that the brand remains dedicated to “science, holistic solutions”, even when traditional nutrition programs face a reduction in relevance.
“The decisive actions we take today, with the overwhelming support of our lenders and points, will give us the flexibility to accelerate innovation, reinstall our members and leading to a rapidly evolving weight management landscape,” Comonte said.
Despite the bankruptcy deposit, WW said its services would continue to intervene during the reorganization and is expecting to emerge as a company being traded to the public within 40 days.
Founded in 1963 by Jean Nidetch, weightwatchers became a domestic name on weight loss, promoting calorie count, support teams and structured food plans.
But the rise of prescription weight loss drugs changed the industry quickly. In response, WW acquired the telecommunications sequence in 2023 to enter the market for weight loss drugs.
The pressure was intensified last year when Oprah Winfrey resigned from the Board of Directors after revealing that he had used obesity drugs. Meanwhile, Novo Nordisk shares – Wegovy’s manufacturer, 6% on Wednesday, after the FDA ordered to stop copying the drug versions.
As the weight loss conversation shifts from diets to medicinal products, WW faces the greatest reinforcement of the story of the six decade.
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