Since 1963, WeightWatchers has stood as a source of hope for millions seeking to shed pounds through community support, disciplined eating, and a points-based system dreamed up by founder Jean Nidetch. At its peak, the programme commanded a £5.2 billion ($6.7 billion) valuation and a loyal following.
Yet, as of 10 April 2025, this iconic brand faces a grim reality: it's preparing to file for bankruptcy, buckling under a £1.25 billion ($1.6 billion) debt and losing ground to a new wave of weight-loss solutions.
What's driving this downfall? A cocktail of pharmaceutical breakthroughs, financial strain, and an identity crisis has left WeightWatchers struggling to stay relevant in a radically changed world.
Ozempic Takes Over: The Drug That Changed Everything
The rise of GLP-1 medications, such as Ozempic, Wegovy, and Zepbound, has rewritten the rules of weight loss. These injectables, developed by giants like Novo Nordisk and Eli Lilly, suppress appetite and deliver jaw-dropping results with little effort.
In the US, monthly prescriptions soared to 3 million by March 2025, according to health tech firm IQVIA, and Morgan Stanley forecasts that 24 million Americans, roughly 7% of the population, will use these drugs by 2035.
For WeightWatchers, a company built on the mantra of willpower and group meetings, this shift spells trouble. Once a magnet for celebrity endorsements, from Jessica Simpson's 2014 transformation to Oprah Winfrey's £33 million ($42 million) stake in 2015, WeightWatchers now watches its star fade.
Even Oprah, who left the board in 2024 after revealing her own use of weight-loss meds, couldn't stop the slide. Subscriber numbers have dropped from 5 million in 2021 to 3.8 million by late 2023, with revenue falling 11-14% yearly, while Novo Nordisk's valuation soars to £2 trillion ($2.6 trillion).
A Late Pivot: Can WeightWatchers Catch Up?
In a bid to adapt, WeightWatchers made a bold move in March 2023, acquiring telehealth provider Sequence, now WeightWatchers Clinic, for £83 million ($106 million). Led by then-CEO Sima Sistani, the company aimed to blend its behavioural roots with access to GLP-1 prescriptions.
'This is a paradigm shift because weight loss has been and, unfortunately, often still is viewed as a vanity issue,' Sistani told analysts, pushing virtual clinics that offer tailored fitness plans and medical support for those targeting a 20% body fat reduction.
However, the strategy faltered. Revenue dipped 10.6% in Q3 2024, and Sistani exited in September 2024 after two years. Though the clinic gained 67,000 subscribers by late 2023, with projections of 140,000-160,000 by year-end 2024, it couldn't offset losses in the core programme.
As WSJ noted on 9 April 2025, WW is now in talks with lenders to cede control to creditors through a Chapter 11 filing, burdened by a £135 million ($173 million) loan and £1.1 billion ($1.4 billion) in bonds due 2028-2029.
Debt And Decline: A Legacy On The Brink
WeightWatchers' troubles aren't new. Pre-Ozempic, the company faced declining sales, a pandemic-driven slump in in-person gatherings, and a failed flirtation with body positivity that alienated its base.
Shares hit rock bottom in March 2023, and S&P Global Ratings downgraded WW in February 2025, citing an outdated image and cash-flow woes. Negotiations with creditors, ongoing as of 7 April 2025, signal a potential endgame, echoing the fate of Jenny Craig, which folded in 2023.
WeightWatchers' 60-year legacy hangs by a thread, its future more tied to boardroom deals than kitchen scales.
