WeightWatchers emerges from bankruptcy after slimming down debts
WeightWatchers has emerged from bankruptcy after slimming down its debts, as it pledged to combine weight-loss jabs with lifestyle changes amid โquick fixesโ dominating the market.
The company said it was shaking up its leadership team and launching a new menopause programme.
The group filed for bankruptcy in the US in May in order to eliminate 1.15 billion US dollars (ยฃ840 million) worth of debt on its balance sheet.
The court process enabled it to restructure its finances and write off the debts, which made up more than 70% of the total amount, while agreeing new terms to pay back its lenders.
WeightWatchersโ chief executive Tara Comonte had said it needed to transform amid a โrapidly evolving weight managing landscapeโ.
Competition has grown fiercely with demand for prescription weight-loss injections under brand names like Mounjaro and Wegovy growing, while studies into the long-term effects of the jabs are ongoing.
On Tuesday, the group said it had appointed a new chief medical officer, physician Dr Kim Boyd, to lead the integration of emerging science into its wider lifestyle-based offering for members.
Dr Boyd said she planned to expand the companyโs โlegacyโ by โcombining the best tools of modern medicine, like GLP-1s, with science-backed lifestyle change and the power of community to deliver better outcomesโ.
GLP-1s, the scientific term for weight-loss jabs, work by reducing food cravings.
WeightWatchers recently partnered with anti-obesity drugs provider CheqUp in the UK so patients taking the medication can access its โcompanionโ diet and lifestyle support app.
Ms Comonte said it was a โpivotal moment for the group, adding: โWith renewed financial strength, an expanded leadership team, and the addition of Dr Kim Boyd to lead clinical strategy and programme innovation, weโre accelerating our transformation.
โIn a landscape dominated by noise, quick fixes, and conflicting advice, WeightWatchers continues to lead as the most trusted, science-backed platform, proven to drive better results and lasting impact.โ
The restructuring resulted in the company appointing a new board of directors.
It also revealed it would be launching a new programme later this year to support women through perimenopause, menopause, and postmenopause, through tailored nutritional and behavioural strategies.
The move will help it address a broader gap in healthcare and meet the evolving needs of millions of its members around the world, it said.
