WeightWatchers falls after filing for chapter 11 bankruptcy
ReutersMay 7, 2025 9:21 AM
Shares of telehealth firm WW International WW.O, formerly known as WeightWatchers, fall 44.9% to 43 cents premarket
Co late on Tuesday said it has filed for Chapter 11 bankruptcy protection to cut its debt
GLP-1 drugs such as Novo Nordisk's NOVOb.CO Wegovy and Eli Lilly's LLY.N Zepbound hit demand for its traditional weight-loss programs
Co said the reorganization plan will eliminate $1.15 billion in debt from its balance sheet
Estimated assets and liabilities were in the range of $1 bln to $10 bln according to the Chapter 11 petition filed in Delaware bankruptcy court
Up to last close, stock down 37.6% YTD
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