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| Weightwatchers files for bankruptcy as Ozempic and Mounjaro surge in popularity | Weightwatchers files for bankruptcy as Ozempic and Mounjaro surge in popularity |
| (32 minutes later) | |
| WeightWatchers has filed for bankruptcy in the US as it struggles with debt and fierce competition from fat-loss jabs like Ozempic and Mounjaro. | WeightWatchers has filed for bankruptcy in the US as it struggles with debt and fierce competition from fat-loss jabs like Ozempic and Mounjaro. |
| The legal process will see $1.15bn (£860mn) of the 60-year-old diet brand's debt written off while it agrees new terms for paying back its lenders. | The legal process will see $1.15bn (£860mn) of the 60-year-old diet brand's debt written off while it agrees new terms for paying back its lenders. |
| WeightWatchers said it will remain "fully operational" during the process with "no impact to members". | WeightWatchers said it will remain "fully operational" during the process with "no impact to members". |
| It follows the meteoric rise in popularity of weight loss injections in what the firm said was a "rapidly changing weight management landscape". | |
| "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 chief executive Tara Comonte. | |
| The plans have "the overwhelming support of our lenders", she said. | |
| In a statement, the brand said its weight-loss programme, "telehealth" scheme, and weight-loss workshops will continue. | |
| WeightWatchers began as weekly weight-loss support group meeting with 400 attendees, and eventually gained millions of members across the globe. | |
| But demand for its weight-loss programmes has dropped while the popularity of drugs such as Wegovy and Zepbound has risen. | |
| It reported a net loss of $346m (£260m) last year, while its subscription revenues fell 5.6% compared with the year before. |