The weight watcher was too late. Credit: T. Schneider – Shutterstock
Weight Watchers, a global leader in weight loss, filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Delaware District after 62 years of operation.
The company has more than $1 billion in debt and wants to completely revamp its business model with a focus on telehealth and digital health services, while continuing to serve its customers during the process. This filing follows a subscriber’s severe slump, and does not come from changing consumer preferences for mobile apps, virtual healthcare, and pharmacological treatments such as Ozempic and Wegovy over traditional methods.
Founded in 1963 by Jean Nidecchi, a New York mother from Queens, the weight watcher gained fame for her group support model and the “point diet.” This method actually banned foods and encouraged healthier food choices without promoting possible changes in habits.
WeightWatchers couldn’t keep up with weight loss pills
The company continued to expand in the 2000s, and was published to broaden its overall health focus. However, in the face of new online models that promote drug-based methods faster, they were unable to adapt to digital time.
Originally due to type 2 diabetes, the emergence of weight loss drugs like Ozempic had a major impact on the renewal of WeightWatchers membership. More and more consumers are favoring these rapid, medically supported options over long-term diet programs. Free mobile apps and platforms supported by health experts have also reduced loyalty.
In 2022, CEO Sima Sistani began making changes by purchasing Sequence, a telehealth weight loss company. The move hopes to translate the weight watcher name into a hybrid model of a combination of technology, clinical care and personalized wellness programs.
