WeightWatchers files for bankruptcy amid rising use of Ozempic, other obesity drugs
1. WW International filed for Chapter 11 bankruptcy to cut $1.6 billion debt. 2. Shares dropped 40% post-announcement amid struggling traditional weight-loss programs. 3. GLP-1 drugs like Ozempic decreased demand for WW's offerings significantly. 4. The reorganization plan aims to eliminate $1.15 billion in debt. 5. WW’s subscription revenues fell 5.6% year-over-year as financial losses grew.