Simpson Thacher represented WW International, Inc. (“WeightWatchers” or the “Company”) in connection with its pre-packaged chapter 11 plan of reorganization, which received approval from the United States Bankruptcy Court for the District of Delaware on June 17, 2025. On June 24, 2025, the Company exited the court-supervised financial reorganization process.
The court-approved plan reduces WeightWatchers’ debt by approximately $1.15 billion, more than 70%, and significantly strengthens its capital structure. The Company’s lenders and noteholders will receive their pro rata share of $465 million in new senior secured term loans due 2030, and 91% of new common equity of the reorganized company. Existing shareholders will receive their pro rata share of 9% of new common equity of the reorganized company.
The Simpson Thacher team included Elisha Graff, Moshe Fink, Rachael Foust, Dov Gottlieb, Zachary Weiner, Sean Lee, Patrick Murphy and Samrat Basani (Restructuring); Kenneth Wallach, Marisa Stavenas, Catherine Ciriello, Christopher Flynn and Kiley Short (Capital Markets); Brian Steinhardt, Patrick Wolff and Matthew Digirolamo (Credit); Gillian Emmett Moldowan, David Rubinsky and Hannah Daniels (Executive Compensation and Employee Benefits); Jonathan Goldstein, Andrew Purcell, Kris Liu and Jiha Min (Tax); Charles Mathes and Robert Hayes (PCAP); Lynn Neuner and Alan Turner (Litigation); Kelly Karapetyan (Antitrust); and Anthony Vernace (M&A).