WeightWatchers files for bankruptcy to help them compete with Ozempic
Stay up to date with notifications from The Independent
Notifications can be managed in browser preferences.
Weight Watchers files for bankruptcy as Ozempic takes over
- 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.