Investing.com -- WW International (NASDAQ:WW) Inc. has initiated discussions to address the company's balance sheet issues, according to Bloomberg, citing sources familiar with the situation. The company, known for its WeightWatchers brand and diet-related products and services, is facing increased competition from new weight-loss drugs.
These talks are still in the early stages, the sources noted. WW International had previously announced during its third-quarter earnings call that it had hired advisers to assist in evaluating options for its capital structure.
The company is collaborating with PJT Partners (NYSE:PJT) in this process, according to the same sources. Additionally, a group of the company’s creditors has engaged Houlihan Lokey Inc (NYSE:HLI). and Gibson Dunn & Crutcher as advisers in preparation for discussions with WW International.
The company's term loan, due in 2028, is currently quoted at around 23 cents on the dollar. This is a significant drop from 71.75 cents at the end of 2023, as per data compiled by Bloomberg.
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