WeightWatchers files for bankruptcy amid rising use of Ozempic, other obesity drugs

1. WW International filed for Chapter 11 bankruptcy to reduce $1.6 billion debt. 2. Shares dropped 40% following bankruptcy announcement, reflecting investor panic. 3. Popularity of GLP-1 drugs is disrupting traditional weight-loss demand. 4. Despite a 2018 rebranding to wellness, company continues losing money. 5. Last year, the company reported a $345.7 million loss and declining revenues.