- WeightWatchers, now WW International, has filed for Chapter 11 bankruptcy in Delaware due to declining subscribers and revenue.
- The company aims to restructure its debt, which exceeds $1.1 billion, and adapt to a weight loss market now dominated by drugs like Ozempic and online fitness programs.
- WW International's subscriber base has dropped by over 14% compared to last year, and revenues have fallen by almost 10%.
- The company will be acquired by a group of investors, with existing shareholders retaining a 9% stake.
- Founded in 1963, WeightWatchers saw significant success, peaking at 5 million subscribers in 2020, but has struggled since the pandemic and the rise of weight-loss drugs.
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