WeightWatchers preparing to file for bankruptcy: report

Core Viewpoint - WW International, known as WeightWatchers, is preparing to file for bankruptcy to transfer control of the business to its creditors, with shares plummeting nearly 59% to 18 cents [1]. Company Summary - The company has struggled to remain relevant due to the rise of effective weight-loss drugs like Novo Nordisk's Wegovy, which provide quicker solutions to obesity [2]. - WeightWatchers is currently negotiating with lenders and bondholders, a process that is not related to market conditions or tariffs [3]. - The firm, which previously offered nutrition and behavior-change programs, acquired the subscription-based telehealth platform Sequence in 2023 to expand into obesity drug prescriptions [3]. - WeightWatchers' stock, which peaked at $100 in 2018, has significantly declined due to revenue drops, liquidity issues, and the departure of celebrity shareholder Oprah Winfrey from its board [4]. - The company has also faced challenges from competing weight-loss drugs like Ozempic [6].