WW International (WW) is holding discussions with lenders to exchange a portion of their debt for equity, potentially shifting control of the diet business to creditors, Bloomberg News reported Wednesday, citing people with knowledge of the matter.
Discussions still are underway, and no final decision has been made, the report said.
The company is working with PJT Partners (PJT), and a group of creditors hired Houlihan Lokey (HLI) and Gibson Dunn & Crutcher, Bloomberg said. WeightWatchers faces a $1.45 billion debt load, the report said.
WeightWatchers, Gibson Dunn and PJT didn't immediately respond to requests for comment, and Houlihan declined to comment, Bloomberg said.
WW International, PJT, Houlihan and Gibson Dunn didn't immediately respond to requests 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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