WeightWatchers emerges from bankruptcy after slimming down debts
The group filed for bankruptcy in the US in May in order to eliminate 1.15 billion US dollars (£840 million) worth of debt on its balance sheet.
The court process enabled it to restructure its finances and write off the debts, which made up more than 70% of the total amount, while agreeing new terms to pay back its lenders.
WeightWatchers' chief executive Tara Comonte had said it needed to transform amid a 'rapidly evolving weight managing landscape'.
Competition has grown fiercely with demand for prescription weight-loss injections under brand names like Mounjaro and Wegovy growing, while studies into the long-term effects of the jabs are ongoing.
On Tuesday, the group said it had appointed a new chief medical officer, physician Dr Kim Boyd, to lead the integration of emerging science into its wider lifestyle-based offering for members.
Dr Boyd said she planned to expand the company's 'legacy' by 'combining the best tools of modern medicine, like GLP-1s, with science-backed lifestyle change and the power of community to deliver better outcomes'.
GLP-1s, the scientific term for weight-loss jabs, work by reducing food cravings.
WeightWatchers recently partnered with anti-obesity drugs provider CheqUp in the UK so patients taking the medication can access its 'companion' diet and lifestyle support app.
Ms Comonte said it was a 'pivotal moment for the group, adding: 'With renewed financial strength, an expanded leadership team, and the addition of Dr Kim Boyd to lead clinical strategy and programme innovation, we're accelerating our transformation.
'In a landscape dominated by noise, quick fixes, and conflicting advice, WeightWatchers continues to lead as the most trusted, science-backed platform, proven to drive better results and lasting impact.'
The restructuring resulted in the company appointing a new board of directors.
It also revealed it would be launching a new programme later this year to support women through perimenopause, menopause, and postmenopause, through tailored nutritional and behavioural strategies.
The move will help it address a broader gap in healthcare and meet the evolving needs of millions of its members around the world, it said.
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2 hours ago
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