WW International (WW) is preparing to file for bankruptcy in the months ahead as part of a plan to shift control of the business to creditors, the Wall Street Journal reported Wednesday, citing people familiar with the matter.
The company, known as WeightWatchers, is still in talks with a key group of lenders and bondholders, the report said.
The restructuring negotiations began prior to the current volatility in stock markets, the report said.
WW International didn't immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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