WeightWatchers files for bankruptcy to cut $1.15B debt, pivoting to telehealth services.

WeightWatchers, now WW International Inc., filed for Chapter 11 bankruptcy to reduce its $1.15 billion debt and shift focus to telehealth services. With support from nearly three-quarters of its debt holders, the company expects to emerge from bankruptcy within 45 days. The move follows the acquisition of Sequence, now WeightWatchers Clinic, which aids users in obtaining prescriptions for weight-loss drugs. The company's shares have traded under $1 since early February.