The owners of Weight Watchers – American Weight Watchers – have applied for bankruptcy protection under the US bankruptcy law, Chapter 11. The balance sheet is to be slimmed down.
A reconstruction plan with the backing of lenders is to remove $1.15 billion from the balance sheet.
The reconstruction is expected to be completed within 45 days.
The background to the financial problems is, among other things, decreased demand for Weight Watchers' meal boxes in the aftermath of the widespread use of Novo Nordisk's weight loss drug Ozempic.
