WeightWatchers files for bankruptcy to shed $1B+ in debt

WeightWatchers, a major cultural force that went beyond the fitness space that’s been around for more than 60 years, files for Chapter 11 bankruptcy in a bid to shed more than $1 billion in debt and reposition itself in the industry. “We are going through this transaction to strengthen our financial foundation for WeightWatchers moving forward so that we can innovate and compete and continue to invest in our business,” president and CEO Tara Comonte says. NBC’s Christine