WeightWatchers has filed for bankruptcy in the US but has emphasised that it is ‘here to stay’.
WW International, a leader in science-backed weight management, announced in May that it will implement a financial reorganisation transaction that will bolster its financial position, increase investment flexibility in its strategic growth initiatives and better serve its millions of members around the world.
The ‘transaction’ will eliminate US$1.15 billion in debt from the company’s balance sheet.
“For more than 62 years, WeightWatchers has empowered millions of members to make informed, healthy choices, staying resilient as trends have come and gone,” said Tara Comonte, Chief Executive Officer of WeightWatchers.
“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. 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.”
