Reported 16 days ago
Wellful Inc., the company behind Nutrisystem and Jenny Craig, is in discussions to manage its significant debt load amidst declining revenues, partly due to competition from weight-loss drugs like Ozempic. With around $550 million in debt due by 2028, Wellful has faced sharp losses and recently shifted to paying interest in kind rather than cash. This situation has prompted creditors to prepare for a potential restructuring as the company's credit ratings have dropped significantly.
Source: YAHOO