WW International, parent of weight loss company WeightWatchers, is filing for Chapter 11 bankruptcy protection.
The move comes as the company looks to eliminate $1.15 billion in debt while it transitions into a telehealth services provider.
“The decisive actions we’re taking today, with the overwhelming support of our lenders and noteholders, will give us the flexibility to accelerate innovation, reinvest in our members, and lead with authority in a rapidly evolving weight management landscape,” said WeightWatchers CEO Tara Comonte in a statement.
“As the conversation around weight shifts toward long-term health, our commitment to delivering the most trusted, science-backed, and holistic solutions—grounded in community support and lasting results—has never been stronger, or more important,” she added.
WeightWatchers said the move into bankruptcy protection will not interfere with its normal business operations, which will continue to serve its more than 3 million members worldwide.
It expects to emerge from this process in approximately 40 days and remain a publicly traded company.
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