WEIGHTWATCHERS’ CEO has revealed the future of the company following a recent bankruptcy filing.
While the chief has stressed that stable seas lay ahead for the popular program, changes will see it shift away from being a “diet club”.
Getty Images - GettyWeightWatchers CEO has revealed the future of the company following a recent bankruptcy filing[/caption]WeightWatchers is one of the most well-known companies that helps its members lose weight, running programs that advocate for healthy eating.
But the lauded company recently filed for Chapter 11 bankruptcy protections, as reported by Today.
Despite this worrying position, the CEO Tara Comonte has stressed that WeightWatchers has no plans of shutting down.
In fact, Comonte has said that this move is a strategic one to help the company its massive debt problems, as well as make drastic changes to its operation.
She noted: “We are going through this transaction to strengthen our financial foundation for WeightWatchers moving forward so that we can innovate and compete and continue to invest in our business.”
WeightWatchers was forced to file after finding itself in debt to the tune of over $1 billion.
THE DRUG OF WEIGHT LOSS
And while this has launched WeightWatchers into a workout of its own as it tries to escape that horrific number, the pivot has been ongoing.
The rise of weight loss medication in recent years has seen a noticeable reaction from WeightWatchers.
In 2023, WeightWatchers acquired a telehealth company to assist members who wanted to experiment with GLP-1 drugs, like Ozempic.
Comonte believed that pairing this form of drug loss medication with the holistic approach that the company takes to weight loss paired well.
It seems that Comonte wants to take this hybrid process forward, and shift away from the basics it built itself on.
She said: “In order for the results of medication to really be sustainable and healthy, they are much better served within a holistic and a comprehensive model of care, and that is what we provide.
“I just think the future of WeightWatchers may look less like a diet club and more like a virtual clinic with programmatic and lifestyle support.”
COMMUNITY SUPPORT
While WeightWatchers is already known for its food point counting method and its community-led approach, this suggests a refinement of the formula.
Comonte is saying that in the future WeightWatchers could become more than a place to lose weight, but one that offers users a wider form of support.
The CEO has assured users that services won’t change in the short term as WeightWatchers goes through this period of transition.
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In early 2021, Jazz revealed in an Instagram post that she gained 100 pounds and suffered from a ‘binge-eating disorder.’ That year, during a confessional interview on her reality series, I Am Jazz, the TV star confessed she felt ‘humiliated’ after her mom started monitoring her eating and often experienced ‘fat-shaming’ from her family. In a December 2021 episode of I Am Jazz, Jazz admitted she was taking a ‘bad medication’ to help her slim down during her adolescence due to her parents wanting her to be smaller. In June 2022, the TV personality revealed she exercised twice a day to shed the pounds. Weeks later, Jazz shared a photo of her weight loss progress and received support from her brother, Sander. In January 2024, the YouTuber announced she had dropped 70 pounds and felt ‘happier and healthier’ than ever.But while Comonte is hopeful for the future, the company is still very much in the danger zone.
Only time can tell when a business goes into bankruptcy, but judging by the falling stock price, not all is healthy just yet.
Following the announcement, the stock value of WeightWatchers fell more than 56%.
So, while this isn’t necessarily the finishing blow, it does suggest that WeightWatchers is going to have to hit the gym more than ever to shed its financial burdens.
WeightWatchers was forced to file for bankruptcy after finding itself in debt to the tune of over $1 billionAlamy Read More Details
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