The decades-old diet program, which is now known as WW, announced it "voluntarily initiated" Chapter 11 on Tuesday and will "bolster its financial position, increase investment flexibility in its strategic growth initiatives, and better serve its millions of members around the world."
"For more than 62 years, WeightWatchers has empowered millions of members to make informed, healthy choices, staying resilient as trends have come and gone,” said Tara Comonte, CEO of WeightWatchers, in a May 6 statement. "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."
WW was founded in 1963 by Jean Nidetch in her apartment and went on to become a multi-million dollar weight management company, though it has struggled in recent years amid the rise in access to Ozempic and other prescription weight-loss drugs. Oprah Winfrey's controversial departure from its board in February 2024 probably didn't help, either.
Even though it has struggled to get the online platform–which connects patients with doctors who can help manage and prescribe weight-loss medications–up to par with its competitors is a challenge it could face head-on in the coming months, as despite entering Chapter 11, Comonte still sees a future for the brand and the platform in the years ahead.
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The company even posted on social media that it was "here to stay" and grateful for its members who keep it "going strong."
In terms of the company's next steps, WW said operations for its members will continue as normal.
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