WW International, formerly Weight Watchers, has been apowerhouse in the wellness industry for decades. The business haschanged over its 56 years; for two-thirds of its members, digitaltools have replaced the in-person meetings the company was builtaround. Still, the business's primary revenue driver remainssubscriptions to its flagship weight-loss and wellness program.
In 2017, WW was starting to gear up for the launch of a majorprogram innovation, but first the company needed to re-evaluate itsdebt situation. Its earnings before interest, tax, depreciation,amortization, and stock-based compensation (EBITDAS) totaled $258.7million for 2016, and it owed $2.021 billion on an institutionallyheld term loan. The loan had an attractive interest rate, but itwould come due in April 2020, which meant that in two years itwould be a short-term liability. WW also had a $50 millionrevolving credit facility.
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Meg Waters
Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.
