WeightWatchers has filed for bankruptcy after 62 years of revolutionising diets for millions.
The company voluntarily entered Chapter 11 to “bolster its financial position” and increase investment flexibility in its strategic growth initiatives.
It will also eliminate US$1.15 billion in debt from the company’s balance sheet. WeightWatchers has also assured its over three million customers worldwide that the bankruptcy will have no impact on operations.
After eliminating its debt, it will reemerge in about 40 days as a publicly traded company.
WeightWatchers CEO, Tara Comonte, said the decision will give them more freedom in the ever-changing weight loss landscape.
“The decisive actions we’re taking today, with the overwhelming support of our lenders and noteholders, will give us the flexibility to accelerate innovation, reinvest in our members, and lead with authority in a rapidly evolving weight management landscape,” she said.
“As the conversation around weight shifts toward long-term health, our commitment to delivering the most trusted, science-backed, and holistic solutions — grounded in community support and lasting results — has never been stronger, or more important."
The debt is a result of failing to keep pace with more convenient weight loss options like GLP-1 drugs, including Ozempic about counting points and calories.
The company has been struggling since the previous CEO, Sima Sistani, was forced out of her position in September 2024 after a failed turnaround that caused WW International's stocks to plummet.
After Comonte took over as CEO, the most recent financial earnings revealed a 12% decline in members and that its $100 million in interest payments on debt is "a significant ongoing burden for the company.”
The company also took a hit after Oprah Winfrey announced she was leaving the WW International board, after nearly a decade in that position.
According to the company, the bankruptcy positions WW International to execute its transformation strategy to enhance its digital and member experience while expanding its telehealth business, which achieved 57% year-on-year growth in Q1 2025.
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