Weight Watchers has announced its intent to file for bankruptcy after finally negotiating a deal on its $1.6 billon of debt. Founded in 1963, by housewife Jean Nidetch (pictured), Weight Watchers has influenced millions of people in the U.S. and around the world, selling diet meals, magazines, books, and memberships to its weight-loss programs. Last year, Weight Watchers announced its own weight-loss injection in an attempt to compete with the likes of Ozempic, but the move didn't result in the turnaround the company hoped for. Jenny Craig, a household name since its launch in the 1980s shut down in 2023 after drowning in debt. Ozempic-maker Novo Nordisk is valued at $2.6 trillion, which is why companies like Weight Watchers and Jenny Craig can’t compete. Pharmaceutical companies that produce GLP-1 diet products like Ozempic, Wegovy and Mounjaro took the world by storm last year, and with celebrities touting their weight loss stories as a result of using the drugs, weight-loss diets are quickly becoming a thing of the past.
