WeightWatchers to file for bankruptcy

(CNN)– The Wall Street Journal reports Weight-Watchers is preparing to file for bankruptcy.

The journal says the company plans to file in the coming months, as part of a plan to give the company’s creditors control of the business.

Weight-Watchers has struggled with declining sales as weight-loss drugs grow in popularity.

For years, the company has made efforts to reinvent itself, first pivoting its focus to wellness, then embracing weight-loss drugs more recently.

Weight-Watchers did not respond to requests for a comment.