WeightWatchers files for bankruptcy
(CNN, KYMA/KECY) - WeightWatchers has filed for bankruptcy. The 62-year-old diet program announced Tuesday it entered Chapter 11.
During the bankruptcy process, WeightWatchers says operations for members will continue as normal.
The company expects to emerge in about 40 days as a publicly traded company with its massive $1.5 billion in debt eliminated.
WeightWatchers has struggled to keep up with more convenient weight loss options, including GLP-1 drugs.
The most recent earnings from February revealed a 12% decline in members.
