Cut -off
Weight Watchers will be renovated in US bankruptcy proceedings
Smarts such as Ozempic made the business difficult. Now the diet classic wants to throw off his debt burden.
The weight loss specialist Weight Watchers wants to captivate his debts in a US insolvency proceedings. According to an agreement with large creditors, liabilities of $ 1.15 billion ($ 1.01 billion) should be omitted. At the announcement, Weight Watchers emphasized that the step for the more than three million members worldwide should not have any consequences.
The company hopes to be able to leave the procedure under Chapter 11 of US insolvency law after about 45 days or faster. The share price dropped by more than half to 34 US cents in post-exchangeable US trade.
WW International, as the company is now officially called, has been under pressure for a long time. Medicines like Ozempic or Wegowy are a problem for the company’s classic diet model. Weight Watchers tries to participate in the business with the weight loss injections via the in-house telemedicine platform. But sales continued.
dpa
Source: Stern
