WeightWatchers, a household name in diet and wellness for over six decades, has filed for bankruptcy protection in the U.S. as it struggles to compete in a fast-changing health landscape dominated by powerful weight-loss drugs like Ozempic, Wegovy, and Mounjaro.
The Chapter 11 filing will allow the company to restructure $1.15 billion of its debt—part of the roughly $1.6 billion it has accumulated. Despite the move, the company says it will continue operations without disruption, assuring members that all services, including its app, coaching, and workshops, remain active.
WeightWatchers, rebranded as “WW” in 2018 to emphasize a broader health mission, has faced a steep drop in subscribers and revenue. It posted a $346 million net loss in 2023, and subscription revenue fell by more than 5% year-over-year.
The diet industry has been upended by the rapid rise of prescription weight-loss drugs. Once the go-to name in structured weight-loss programs, WeightWatchers now competes with medications that offer quicker and more dramatic results—many of which have surged in popularity thanks to celebrity endorsements and social media buzz.
Although WW has tried to adapt—offering weight-loss medications via its telehealth platform—it hasn’t been enough to offset declining demand for its traditional programs. The bankruptcy process is expected to wrap up within about 40 days, with the company aiming to emerge as a restructured, publicly traded firm.
The shift highlights a broader change in consumer preferences, as wellness becomes increasingly medicalized and tech-driven.