WeightWatchers (WW) is in discussions with lenders to swap a portion of its debt for equity in a deal that could also potentially hand control of the business to creditors, Reshmi Basu of Bloomberg reports, citing people with knowledge of the situation. The company has been talking with lenders about ways to lessen its nearly $1.5B debt load as it faces declining revenue and increased competition from weight-loss drugs, according to Basu. Shares of WeightWatchers are down 1% to 54c in afternoon trading.
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