WeightWatchers has filed for bankruptcy as more Americans turn to weight loss drugs to slim down.
The 62-year-old weight loss program’s parent company, WW International, announced Tuesday that it aims to eliminate $1.1 billion in debt as part of the Chapter 11 filing and to focus on expanding its fledgling telehealth business. Services to WeightWatchers customers will continue uninterrupted, the company said.
“Our existing debt has been a significant burden on the business for many years and has resulted in approximately $100 million of annual interest payments in each of the last two years,” WeightWatchers CEO Tara Comonte said in a call on Tuesday to discuss the company’s restructuring plans.
WeightWatchers said it expects to complete the reorganization in 40 days and emerge as a publicly traded company.
WeightWatchers has more than 3 million members worldwide. The company also offers prescription weight-loss medication through its “WeightWatchers Clinic” subscription program.
“Importantly, WeightWatchers remains fully operational with all of our offerings and services, including our workshops, our app and our telehealth business, continuing to operate with no interruption during this reorganization process and beyond,” Comonte said in the call. “To repeat, there will be no impact to our members or the plans they rely on to support their weight management goals or to our teams.”
WeightWatchers on Tuesday reported revenues of $186.6 million for the first quarter of 2025, down 9.7% compared to the period a year ago. The company had fiscal-year 2024 revenue of $785.9 million, less than half of its revenues in 2018.