WW Worldwide, also referred to as WeightWatchers, is getting ready to file for chapter within the coming months as a part of a plan at hand management of the enterprise to its collectors, the Wall Road Journal reported Wednesday, citing individuals aware of the matter.
Shares of the corporate tumbled practically 59% to 18 cents in afternoon buying and selling.
The burden administration agency has been struggling to remain related as extremely efficient weight-loss medication, comparable to Novo Nordisk’s Wegovy, soared to recognition by providing a faster repair to weight problems, a rising well being concern globally.
The corporate, which supplied vitamin and behavior-change packages for weight reduction, purchased subscription-based telehealth platform Sequence in 2023 to broaden into weight problems drug prescriptions.
WeightWatchers’ inventory, which traded as excessive as $100 in 2018, misplaced most of its worth final 12 months as the corporate confronted income declines, liquidity considerations and celeb shareholder Oprah Winfrey’s determination to exit its board.
The corporate is negotiating with lenders and bondholders, the WSJ report stated, including that the restructuring discussions are unrelated to the market meltdown and overseas commerce tensions as a result of Trump administration’s tariff announcement.
The corporate didn’t instantly reply to a Reuters request for remark.
