WeightWatchers, officially known as WW International, has filed for Chapter 11 bankruptcy as it seeks to eliminate over $1 billion in debt and adapt to significant market shifts influenced by the rising popularity of weight-loss drugs like Ozempic. The company has acknowledged a decline in sales and changing consumer behavior as key factors in their financial struggles. In a strategic move to secure its future, WeightWatchers announced plans to undergo a prepackaged bankruptcy process, aiming for a strong reorganization that would strengthen its financial position for long-term growth and profitability. Despite the bankruptcy filing, it has reached agreements to remain operational during the restructuring.