WeightWatchers is filing for bankruptcy after 62 years since the launch of its revolutionary dieting program. The company announced it had entered Chapter 11 protection on Tuesday to “eliminate $1.15 billion in debt.” The bankruptcy filing comes as the business has failed to keep pace with weight loss drugs such as Ozempic. It also saw the departure of Oprah Winfrey from the company’s board after almost a decade in 2024. The bankruptcy process will see WeightWatchers, now known as WW International, shed most of its debt and become a publicly traded company around 40 days later. Business as usual will continue for members in the meantime. “The decisive actions we’re taking today, with the overwhelming support of our lenders and noteholders, will give us the flexibility to accelerate innovation, reinvest in our members, and lead with authority in a rapidly evolving weight management landscape,” CEO Tara Comonte said in a press release accompanying the announcement. WeightWatchers still had around 3.3 million subscribers as of the end of 2024, but had seen its share price collapse following a failed turnaround plan by previous CEO Sima Sistani. WW shares are now traded as penny stocks—a severe downgrade from 2018, when shares traded at over $100.
