WeightWatchers has officially filed for Chapter 11 bankruptcy this week amid a slew of financial challenges, leaving millions of its customers rattled.
Although the weight-loss program company’s filing has come as a shock, it issued a hopeful 45-day promise to its users.
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WeightWatchers, now called WW International, is a commercial weight-loss program that used a points system to encourage its participants to make healthier food choices and manage their portion sizes.
Founded in 1963, the company quickly grew in popularity because it was the first commercial, non-medical weight-loss organization.
However, the company has struggled over the years, facing financial challenges and declining membership.
Many US companies have similarly struggled, ultimately filing for bankruptcy due to a variety of factors, including rising interest rates, persistent inflation, and a weakening economy.
WeightWatchers has suffered at the hands of the current economic landscape, announcing on Tuesday that the company had filed for Chapter 11 to help “bolster its financial position” and “better serve its millions of members around the world.”
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