WeightWatchers files for bankruptcy after growth in weight-loss drugs

Company struggled to compete with drugs like Ozempic

The company also reported a 14.2% decrease on its end-of-period subscribers for the quarter.

WeightWatchers, known for its diet programmes once endorsed by celebrities including Oprah Winfrey, has filed for bankruptcy after struggling to compete with drugs like Ozempic.

The company filed a prepackaged Chapter 11 petition in the US to execute a lender-backed plan that would cut about $1.15bn (€1bn) in debt from its balance sheet. It expects to complete the reorganisation in about 45 days.