Popular diet program WeightWatchers files for Chapter 11 bankruptcy

WeightWatchers, the decades-old program touted for years by Chicago talk-show icon and entertainment mogul Oprah Winfrey, has filed for Chapter 11 bankruptcy protection to eliminate $1.15 billion in debt and focus on its transition into a telehealth services provider that helps users get prescriptions for drugs like Ozempic, Wegovy and Trulicity.

In an announcement Tuesday, parent WW International Inc. said it has the support of nearly three-quarters of its debt holders. It expects to emerge from bankruptcy within 45 days, if not sooner.

The well-known diet program says it will remain "fully operational" during the reorganization process, with no impact to members or plans.

"For more than 62 years, WeightWatchers has empowered millions of members to make informed, healthy choices, staying resilient as trends have come and gone,” Tara Comonte, WeightWatchers CEO said in the announcement. Comonte went on to say the filing would give the program the opportunity to "innovation, reinvest in our members, and lead with authority in a rapidly evolving weight management landscape."

"As the conversation around weight shifts toward long-term health, our commitment to delivering the most trusted, science-backed, and holistic solutions—grounded in community support and lasting results—has never been stronger, or more important."

"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. As the conversation around weight shifts toward long-term health, our commitment to delivering the most trusted, science-backed, and holistic solutions—grounded in community support and lasting results—has never been stronger, or more important."

Its latest earnings report Tuesday showed that first-quarter revenue declined 10% while its loss on an adjusted basis totaled 47 cents per share. However, clinical subscription revenue — or weight-loss medications — jumped 57% year over year to $29.5 million.

What if you're a member?

In an FAQ on its website, the diet company said business will operate as usual.

"We are proactively taking steps to strengthen our financial position for future growth and success so we can better serve our members," the company said. "Moving forward, we will be focused on enhancing our digital and member experience and expanding our telehealth business."

Neither membership nor product offerings will not be impacted, Weightwatchers said. Studios will remain open, and virtual workshops are expected to continue without disruption.

"Members can continue using membership services and offerings as usual and expect the same outstanding service and support from our team," the company said.