WeightWatchers is reportedly gearing up to file for bankruptcy.
According to an in-depth report from The Wall Street Journal, WW International plans to hand control of the business to its creditors in the coming months.
“A number of options are being considered, negotiations are ongoing with lenders and bondholders,” a source told Daily Mail.
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Many outlets are suggesting that the rise of GLP-1 drugs like Ozempic, Wegovy, and Zepound are responsible for WeightWatcher’s decline.
It’s not difficult to draw that conclusion. After all, Oprah, who was once a major part of WeightWatchers, eventually stepped away from the program and opted to use a GLP-1 medication.
Winfrey, 71, bought a 10 percent stake in WeightWatchers, joined the board of directors, and became a public face of the brand beginning in 2015.
However, come February 2024, the A-lister stepped down from the board and announced that she would be donating her remaining shares to the National Museum of African American History and Culture.
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Although Winfrey has never revealed which brand of GLP-1 she uses, the philanthropist is a huge advocate for them.
"I now use it as I feel I need it, as a tool to manage not yo-yoing," Winfrey told People in a December 2023 interview.
"The fact that there's a medically approved prescription for managing weight and staying healthier, in my lifetime, feels like relief, like redemption, like a gift, and not something to hide behind and once again be ridiculed for,” she added. “I’m absolutely done with the shaming from other people and particularly myself."
Other celebrities like Sharon Osbourne, Amy Schumer, Claudia Oshry, Charles Barkley, and more have also opened up about their experiences with GLP-1 medications.
The company that manufactures Ozempic, Novo Nordisk, is worth $337.79 billion, whereas WeightWatchers is worth $35.24 million.
WW International did not immediately respond to Parade’s request for comment.
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