WeightWatchers struggles with rising debt and competition from weight-loss drugs like Ozempic|Mike Mozart|CC BY-2.0
WeightWatchers plans to file for bankruptcy in the coming months, aiming to hand control to its creditors, reports the Wall Street Journal.
WW International struggles with rising debt and competition from weight-loss drugs like Ozempic. Recent executive exits and Oprah Winfrey’s departure from the board have also added pressure.
Talks with lenders are ongoing, but a Chapter 11 filing looks likely. WW recently drew down $121 million from a credit line to boost flexibility. It faces over $1.4 billion in debt maturing by 2029.
S&P Global Ratings downgraded the company’s credit rating in February, citing a declining brand and aging subscriber base. A shareholder, Premca Capital, is pushing for major changes.