WeightWatchers sees exit from court-supervised reorganization process next week

WW (WW) International announced that, following approval of its Plan of Reorganization, it is on track to exit the court-supervised financial reorganization process as early as next week. “This is a meaningful turning point for WeightWatchers (WGHTQ),” said Tara Comonte, Chief Executive Officer of WeightWatchers. “We’ve taken decisive action to significantly strengthen our financial foundation and will emerge with the flexibility to execute and grow. As the globally recognized leader in weight management-built on decades of experience and the trust of millions-we’re focused on reaching more people and actively shaping diverse weight management solutions that support our members’ needs within a fast-moving healthcare landscape. I’m deeply grateful to our team, members, and partners for their steadfast support and continued commitment to our mission throughout this process.” The company added: “WeightWatchers has continued operating as a publicly traded company without interruption throughout the reorganization process, serving its millions of members worldwide. The court-approved Plan will reduce WeightWatchers’ debt by approximately $1.15B, more than 70%, and significantly strengthen its capital structure. The company’s lenders and noteholders will receive their pro rata share of $465M in new senior secured term loans due 2030, and 91% of new common equity of the reorganized company. Existing shareholders will receive their pro rata share of 9% of new common equity of the reorganized company.”