Fav of CanadaFav of Canada
  • Home
  • News
  • Money
  • Living
  • Entertainment
  • Health
  • Sci-Tech
  • Travel
  • More
    • Sports
    • Web Stories
    • Global
    • Press Release

Subscribe to Updates

Get the latest Canada's trends and updates directly to your inbox.

What's On

Halifax pizzaiolo named one of the top 100 pizza chefs in the world

July 1, 2025

More Canadians avoiding U.S. goods, travel amid Trump trade war: poll

July 1, 2025

‘A galvanizing moment’: Ontario festival pushes back against ‘51st state’ rhetoric

July 1, 2025
Facebook X (Twitter) Instagram
Fav of CanadaFav of Canada
  • Home
  • News
  • Money
  • Living
  • Entertainment
  • Health
  • Sci-Tech
  • Travel
  • More
    • Sports
    • Web Stories
    • Global
    • Press Release
Fav of CanadaFav of Canada
You are at:Home » WeightWatchers files for bankruptcy protection as weight-loss drugs dominate
Health

WeightWatchers files for bankruptcy protection as weight-loss drugs dominate

By favofcanada.caMay 7, 2025No Comments3 Mins Read
Facebook Twitter Pinterest Telegram WhatsApp Email Tumblr LinkedIn
Share
Facebook Twitter Pinterest WhatsApp Email

Popular weight-loss drugs like Ozempic and Wegovy are helping millions worldwide shed unwanted pounds, but it appears they’ve also been eating away at WeightWatcher’s profits.

WW International, formerly known as WeightWatchers, filed for Chapter 11 bankruptcy protection on Tuesday in a bid to protect itself and cut debt after hugely popular obesity drugs capsized its once successful business model.

It hopes to eliminate debts of more than US$1.1 billion while positioning the “company for long-term growth and success.” The type of bankruptcy allows the company to continue operating while it restructures its assets and fights to continue operating.

The company has accumulated substantial debt of around $1.6 billion.

WeightWatchers said it will remain “fully operational” during the process with “no impact to members.”

WeightWatchers formed more than 60 years ago, starting out by offering weekly weight-loss support group meetings. The first meeting, which cost New Yorkers $2 to attend, attracted 400 people looking to lose weight.

A year later, the company began to offer a franchise option and, soon after, WeightWatchers transformed into a household name with millions of members around the globe.

The rising combination of fitness influencers and popularity of GLP-1 drugs, such as Novo Nordisk’s Ozempic and Wegovy, are now a major threat to traditional weight-loss programs.

Receive the latest medical news and health information delivered to you every Sunday.

Get weekly health news

Receive the latest medical news and health information delivered to you every Sunday.

During Tuesday’s first quarter results, WW International revealed that subscribers were down more than 14 per cent compared to the same period last year, at 3.4 million. Revenues of nearly $187 million plunged almost 10 per cent compared with the year prior.

The company is due to be taken over by a group of investors, while shareholders will retain a nine per cent stake once the process is complete in 45 days, per the filing.

Shares of the company, which once boasted Oprah Winfrey as one of its top shareholders and a member of the board of directors, have traded at under $1 since early February.

In after-hours trading on Tuesday, the stock plunged by half, to 39 cents.

Winfrey left the WW board of directors in February 2024 after she told People magazine that she had been taking weight-loss drugs, the company said at the time.

Winfrey, the company’s largest individual shareholder at the time, pledged to donate her stake to the National Museum of African American History and Culture in Washington, D.C.

In 2023, the company moved into the prescription drug weight loss business — particularly with the $106 million acquisition of Sequence, now WeightWatchers Clinic, a telehealth service that helps users get prescriptions for drugs like Ozempic, Wegovy and Trulicity.

Its latest earnings report Tuesday shared that its clinical subscription revenue — or weight-loss medications — jumped 57 per cent year-over-year to $29.5 million.

The company has estimated assets and liabilities in the range of $1 billion to $10 billion, according to the petition filed in Delaware bankruptcy court.

— With files from The Associated Press


&copy 2025 Global News, a division of Corus Entertainment Inc.

Related Articles

Climate change driving rise in tick-borne illnesses such as Lyme disease

By favofcanada.caJune 28, 2025

WHO still seeking COVID-19 origin, says all scenarios ‘remain on the table’

By favofcanada.caJune 27, 2025

U.S. pulls support from global vaccines group. What to know

By favofcanada.caJune 26, 2025

72 sick after eating salami linked to salmonella outbreak: PHAC

By favofcanada.caJune 25, 2025

‘Monumental’ HIV shot could be coming to Canada. What we know

By favofcanada.caJune 24, 2025

Extreme heat can turn dangerous fast. Who is most vulnerable?

By favofcanada.caJune 20, 2025
Add A Comment

Leave A Reply Cancel Reply

Don't Miss

More Canadians avoiding U.S. goods, travel amid Trump trade war: poll

By favofcanada.caJuly 1, 2025

Canadian attitudes toward the United States have soured further during U.S. President Donald Trump’s trade…

‘A galvanizing moment’: Ontario festival pushes back against ‘51st state’ rhetoric

July 1, 2025

Scherzer finds his stuff in strong start

July 1, 2025

Alberta’s new referendum rules set to formally take effect as some continue separatist push

June 30, 2025
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Our Picks

Gilbert Rozon, Just for Laughs founder, continues to deny allegations

By favofcanada.caJune 30, 2025

Blue Jays rally in sixth to edge Yankees 5-4

By favofcanada.caJune 30, 2025

Canada Day celebrations expanding in Lethbridge

By favofcanada.caJune 30, 2025
About Us
About Us

Fav of Canada is your one-stop website for the latest Canada's trends and updates, follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]
Contact: +44 7741 486006

Our Picks

Halifax pizzaiolo named one of the top 100 pizza chefs in the world

July 1, 2025

More Canadians avoiding U.S. goods, travel amid Trump trade war: poll

July 1, 2025

‘A galvanizing moment’: Ontario festival pushes back against ‘51st state’ rhetoric

July 1, 2025

Subscribe to Updates

Get the latest Canada's trends and updates directly to your inbox.

Facebook X (Twitter) Instagram Pinterest TikTok
  • Privacy Policy
  • Terms of use
  • Advertise
  • Contact
© 2025 Fav of Canada. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.