This picture shows the weight monitor’s logo on a mobile phone and on the company of the company in New York on March 7, 2023.
Richard Drew/AP
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Richard Drew/AP
New York -Weight guards said on Tuesday that it requested insolvency protection in Chapter 11 to eliminate debts of 1.15 billion US dollars and to focus on the transition to a telemedia service provider.
The parent WW International Inc. said it had the support of almost three quarters of its debtors. It is expected, if not earlier, can be found within 45 days.
Weight monitor, which was founded more than 60 years ago, has recently had problems. In 2023, the company joined the business with weight loss of prescription drugs -in particular with the takeover of the sequence of 106 million US dollars, Now Weightwatchers Clinic, a Telemedicine Service, with which users can receive recipes for medication such as Ozempic, Wegovy and Trulicity.
The latest winning report on Tuesday showed that sales decreased by 10% in the first quarter, while the loss was 47 cents per share on an adjusted basis. However, the clinical subscription revenue or weight loss medication stairs compared to the previous year by 57% to USD 29.5 million.
In September, the WW International CEO Sima Sistani resigned, and the New York Company named Tara Comonte, a board member and former employee of Shake Shack, Interim Managing Director.
Comonte, now CEO, said in a statement on Tuesday that “the conversation about the weight towards long-term health shifted, our commitment to the provision of the most trustworthy, scientifically supported and holistic solutions that was founded in the support of the community and permanent results-more or more important.”
The company’s shares have been traded at less than $ 1 since the beginning of February. When trading in trade after business time, the stock fell half to 39 cents.
The bankruptcy registration was made before the US insolvency court for the Delaware district.