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WeightWatchers is filing for bankruptcy
WeightWatchers has filed for bankruptcy arsenic much Americans crook to value nonaccomplishment drugs to slim down.
The 62-year-old value nonaccomplishment program's genitor company, WW International, announced Tuesday that it aims to destruct $1.1 cardinal successful indebtedness arsenic portion of the Chapter 11 filing and to absorption connected expanding its fledgling telehealth business. Services to WeightWatchers customers volition proceed uninterrupted, the institution said.
"Our existing indebtedness has been a important load connected the concern for galore years and has resulted successful astir $100 cardinal of yearly involvement payments successful each of the past 2 years," WeightWatchers CEO Tara Comonte said successful a telephone connected Tuesday to sermon the company's restructuring plans.
WeightWatchers said it expects to implicit the reorganization successful 40 days and look arsenic a publically traded company.
WeightWatchers has much than 3 cardinal members worldwide. The institution also offers medicine weight-loss medication through its "WeightWatchers Clinic" subscription program.
"Importantly, WeightWatchers remains afloat operational with each of our offerings and services, including our workshops, our app and our telehealth business, continuing to run with nary interruption during this reorganization process and beyond," Comonte said successful the call. "To repeat, determination volition beryllium nary interaction to our members oregon the plans they trust connected to enactment their value absorption goals oregon to our teams."
WeightWatchers connected Tuesday reported revenues of $186.6 cardinal for the archetypal 4th of 2025, down 9.7% compared to the play a twelvemonth ago. The institution had fiscal-year 2024 gross of $785.9 million, little than fractional of its revenues successful 2018.
Megan Cerullo is simply a New York-based newsman for CBS MoneyWatch covering tiny business, workplace, wellness care, user spending and idiosyncratic concern topics. She regularly appears connected CBS News 24/7 to sermon her reporting.
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