WeightWatchers in Talks to Potentially Hand Control to Lenders

WW International Inc. is in discussions with lenders to swap a portion of their debt for equity in a deal that could also potentially hand control of the struggling diet business to creditors, according to people with knowledge of the situation.

WeightWatchers, the once ubiquitous seller of diet-related products and services, has been talking with lenders about ways to curb its nearly $1.5 billion debt load as it battles declining revenue and increased competition from a new generation of weight-loss drugs.

Discussions are ongoing and no final decision has been made, said the people, who asked not to be identified ...