WeightWatchers gives UK slimmers major update after filing for bankruptcy in US
WeightWatchers, the once-dominant diet brand backed by celebrities including Oprah Winfrey, has filed for bankruptcy in the United States.
The company became the highest-profile casualty of the explosive rise in weight-loss drugs that have rapidly redefined the wellness industry. WW International Inc., the company behind the 62-year-old brand, announced it has entered Chapter 11 proceedings in Delaware bankruptcy court.
It is aiming to shed more than £860 million in debt and restructure operations to focus on prescription weight-loss drugs via its telehealth business, WeightWatchers Clinic. Customers in the UK, of which there are approximately two million each year, have been assured that it will be "business as usual".
A UK spokesperson told the Mirror: "WeightWatchers took strategic action to eliminate approximately $1.15 billion (£860 million) in debt, significantly strengthening its financial foundation to further invest in its growth strategy and better serve its millions of members around the world.
"WeightWatchers remains business as usual. There will be no impact to members or the plans they rely on to support their weight management goals. All offerings and services, including workshops, the app, and access to telehealth services, will continue to operate as usual, with no interruptions."
While specific figures vary, business data portal Statista reports that around 1.3 million people used Weight Watchers chilled or frozen ready meals in 2020 In the UK.
The bankruptcy filing in the US comes amid a sharp decline in revenue and a collapse in its stock price. Once worth more than £5 billion, the company's market value has fallen to just £8.71 million. Its shares have traded under 75p since February.
The brand's struggles accelerated after Oprah Winfrey, its most high-profile investor and ambassador, resigned from the board in February 2024 - two months after publicly admitting she had been using weight-loss drugs. The US chat show queen had been a key figure in WeightWatchers' image and marketing since joining the board in 2015.
The company says it has the backing of nearly three-quarters of its creditors and expects to emerge from bankruptcy within 45 days.
As part of the restructuring, it plans to pivot further into the pharmaceutical sector by selling 'GLP-1' weight loss drugs Wegovy and Mounjaro as well as diabetic medication Ozempic, which buyers have used to lose weight.
Once a leader in the diet industry - offering calorie-counting tools, frozen meals, books and in-person support groups - WeightWatchers has found itself rapidly eclipsed by the popularity of GLP-1 drugs. They suppress appetite and lead to significant weight loss with minimal lifestyle changes.
In 2023, the company acquired the firm Sequence for £79 million and rebranded it as WeightWatchers Clinic, offering virtual access to prescriptions.
While the drug segment's revenue grew 57 per cent year-on-year in the first quarter to £22.1 million, total company revenue fell 10 per cent, and losses deepened. WeightWatchers' leadership has seen turmoil during the decline. CEO Sima Sistani resigned in September 2024. Interim chief executive Tara Comonte - a former Shake Shack burger executive and board member - is now leading the bankruptcy process.
In a statement, Comonte said: 'As the conversation around weight shifts toward long-term health, our commitment to delivering the most trusted, science-backed and holistic solutions has never been stronger.'
But industry analysts say the company's pivot may be too late. 'The rise of GLP-1 drugs has upended the traditional weight-loss industry, and WeightWatchers is the first major casualty,' said Lale Akoner, global market strategist.
'This isn't just a company failure, it's a wake-up call for the entire wellness sector.'
The company has also faced challenges in appealing to younger consumers. In 2018, WeightWatchers acquired the health app Kurbo in an effort to reach a new generation. The following year, it launched the platform publicly, targeting children aged eight to 17 with the goal of promoting 'healthy habits.'
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