Weightwatchers said on Tuesday that it is presented to the protection of Chapter 11 bankruptcy to eliminate $ 1.15 billion debt and focus on its transition to a Telehealth service provider.
Parent WW International Inc. He said he was supported by almost three quarters of his debt holders. It is planned to leave the bankruptcy within 45 days, if not sooner.
Weightwatchers, who was he founded more It has recently fought 60 years ago. By 2023 the company moved to the Recipe medicine weight loss business – particularly with the Sequence acquisition of $ 106 millionNow Weightwatchers Clinic, a Telehealth service that helps users to get recipes Drugs like Ozempic, Wegovy and Trulicity.
His latest results report showed on Tuesday that the first quarter revenue decreased by 10%, while their loss in a tight way amounted to 47 cents per action. However, clinical subscription income (or medication for losing weight) increased 57% year -on -year to $ 29.5 million.
In September, CEO International WW, Sima Sistani He resigned, and the New York company appointed Tara Comonte, a member of the Weightwatchers Council, and former Shake Shack, a temporary CEO.
Comonte, now CEO, said in a statement on Tuesday that, “as the conversation around weight moves to long -term health, our commitment to deliver the most confident solutions, supported by science and holistic, related to community support and lasting results, has never been stronger or more important.”
Company shares have been contributed to less than $ 1 since the beginning of February. In the post -hours negotiation, the actions were immersed by up to 39 cents.
Failure submission was made in the United States Failure Court for the Delaware district.