WeightWatchers said Tuesday it is filing for Chapter 11 bankruptcy protection to eliminate $1.15 billion in debt and focus on its transition into a telehealth services provider. Parent WW International Inc. said it has the support of nearly three-quarters of its debt holders. It expects to emerge from bankruptcy within 45 days, if not sooner. WeightWatchers, which was founded more than 60 years ago, has struggled recently. In 2023, the company moved into the prescription drug weight loss business — particularly with the $106 million acquisition of Sequence, now WeightWatchers Clinic, a telehealth service that helps users get prescriptions for drugs like Ozempic, Wegovy and Trulicity.
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