WeightWatchers has filed for Chapter 11 bankruptcy protection to eliminate $1.15 billion in debt, enabling a strategic shift towards telehealth services. Supported by nearly 75% of its debt holders, the company anticipates a swift exit from bankruptcy within 45 days. Despite recent challenges, including a 10% revenue decline, clinical subscription revenue related to weight-loss medications saw a 57% increase. New interim CEO Tara Comonte highlighted the focus on providing trusted health solutions as the landscape around weight management evolves.
WeightWatchers' Chapter 11 bankruptcy aims to eliminate $1.15 billion in debt while refocusing on its transformation into a telehealth services provider.
CEO Tara Comonte emphasized the company's commitment to delivering science-backed, holistic solutions as the focus on long-term health gains momentum.
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