Filing Alert: WeightWatchers Chapter 11
WeightWatchers Files Chapter 11 in District of Delaware
WW International, Inc. and its debtor affiliates⁽¹⁾ (collectively, "WeightWatchers" or the "Company"), a New York, NY-based global provider of science‑backed weight management programs and clinical solutions, filed for Chapter 11 protection on May 6 in the U.S. Bankruptcy Court for the District of Delaware.
The prepackaged filing aims to implement a comprehensive deleveraging transaction through a Restructuring Support Agreement (RSA) with holders of over 79% of its prepetition credit facility claims and 74% of its senior secured notes. The RSA will reduce funded debt by approximately $1.1 billion and annual interest expense by about $50 million. WeightWatchers faced headwinds from the shift to digital post-COVID, evolving consumer preferences away from structured programs, and increased competition from GLP-1 medications and telehealth providers, leading to a significant revenue decline and an annual interest burden exceeding $100 million on over $1.6 billion of funded debt.
The plan contemplates first lien claims receiving their pro rata share of $465 million in new takeback debt (new term loans or new notes) and 91% of new common equity (subject to MIP dilution), with the remaining 9% of new equity allocated to existing equity holders. General unsecured creditors are unimpaired. The Company will continue to use cash collateral consensually during the cases and targets emergence by late June 2025.
WW International, Inc. reports $550.3 million in assets and $1.7 billion in liabilities. The case number is 25-10829.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Local Counsel:
- Edmon L. Morton
- Young Conaway Stargatt & Taylor, LLP
- Email: emorton@ycst.com
Bankruptcy Counsel:
- Simpson Thacher & Bartlett LLP
Financial and Restructuring Advisor:
- Alvarez & Marsal North America, LLC
Investment Banker:
- PJT Partners LP
Financial Advisor:
- Matthews South, LLC
Signatories:
- Felicia DellaFortuna – Chief Financial Officer
Claims Agent:
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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