WeightWatchers preparing to file for chapter: – Business News
WW International, also called WeightWatchers, is preparing to file for chapter within the coming months as half of a plan to hand control of the business to its collectors, the Wall Street Journal reported Wednesday, citing people conversant in the matter.
Shares of the company tumbled almost 59% to 18 cents in afternoon trading.
The weight management firm has been struggling to keep related as extremely efficient weight-loss medicine, comparable to Novo Nordisk’s Wegovy, soared to recognition by offering a faster repair to weight problems, a growing health concern globally.
WeightWatchers is reportedly negotiating with lenders and bondholders, a transfer unrelated to the market meltdown or tariffs. SOPA Images/LightRocket through Getty Images
The company, which provided nutrition and behavior-change applications for weight loss, purchased subscription-based telehealth platform Sequence in 2023 to increase into weight problems drug prescriptions.
WeightWatchers’ stock, which traded as high as $100 in 2018, misplaced most of its worth final yr because the company confronted income declines, liquidity issues and movie star shareholder Oprah Winfrey’s determination to exit its board.
The company is negotiating with lenders and bondholders, the WSJ report mentioned, including that the restructuring discussions are unrelated to the market meltdown and overseas commerce tensions due to the Trump administration’s tariff announcement.
WeightWatchers has additionally been damage by weight-loss medicine like Ozempic. REUTERS
Celebrity shareholder Oprah Winfrey left the board final yr. Getty Images
The company didn’t instantly reply to a Reuters request for remark.
