WeightWatchers Files for Bankruptcy to Eliminate $1.15 Billion Debt Burden

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.

Read more at AP News