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WW International (WW.O), also known as WeightWatchers, is preparing to file for bankruptcy in the coming months as part of a plan to hand control of the business to its creditors, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Shares of the company tumbled nearly 59 percent to 18 cents in afternoon trading.
The weight management firm has been struggling to stay relevant as highly effective weight-loss drugs, such as Novo Nordisk’s (NOVOb.CO) Wegovy,…
