WeightWatchers' parent company, WW International Inc., files for Chapter 11 bankruptcy

WeightWatchers’ parent company, WW International Inc., filed for Chapter 11 bankruptcy protection on May 6, 2025, marking a significant downfall for the beleaguered enterprise. The move, which comes after years of declining revenue and a growing $1.6 billion debt load, will see the firm restructure its finances, close underperforming programs, and sell some assets.

The filing, which affected WW’s operations in North America and allowed the company to continue operating during the restructuring, follows a turbulent period for the weight-loss giant. CEO Sima Sistani described the process as "a step toward long-term stability for WW." However, no recovery is guaranteed as the company faces a challenging economic landscape and changing consumer preferences.

Oprah’s $500M Stake Vanished—Bitcoin Could’ve Flipped That Story

Back in 2015, Oprah Winfrey invested $43 million in WW, securing a 10% stake in the parent company. At its peak in 2018, her holdings surged to nearly $500 million as the stock price soared. But by 2024, Oprah confirmed she had fully exited the company, rendering her stake nearly worthless. At the same time, Bitcoin's price rose sharply from around $6,484 in mid-2018 to nearly $97,015 by May 2025, according to TradingView data.

If Oprah or WeightWatchers had invested the same $43 million into Bitcoin in 2018 instead of company stock, the position would now be worth approximately $643 million. That amount could cover over one-third of WeightWatchers’ current $1.6 billion debt.

Bitcoin vs WeightWatchers: A Missed Financial Hedge

WeightWatchers’ business model faced significant challenges as GLP-1 weight-loss drugs like Ozempic and Wegovy gained popularity. Despite acquiring the telehealth platform Sequence in 2023 to offer prescription weight-loss medications, the company struggled to regain growth. The rise of these medications disrupted traditional weight-loss programs, leading to a decline in subscriptions and financial strain for Weight Watchers.

Meanwhile, the cryptocurrency sector rebounded sharply after the 2022 crash, with institutional inflows and multiple ETF approvals pushing Bitcoin higher.

Major corporations like Strategy (formerly MicroStrategy) now use Bitcoin as a treasury hedge starting in 2020. If WW had done something similar in 2018 or even 2020, it might have avoided its current financial collapse. Even a 5% allocation from its balance sheet could have made a noticeable difference.

Had WW taken just $50 million in 2018 and bought Bitcoin, it could now hold nearly 8,000 BTC, valued at roughly $500 million. That’s nearly one-third of its debt covered by a single asset. Instead, years of restructuring, failed pivots, and shareholder exits led to bankruptcy.