Market News
12Aug2005 |
Atkins Nutritionals Files for BankruptcyIn the face of waning enthusiasm for the Atkins diet, Atkins Nutritionals has filed for Chapter 11 bankruptcy protection. The company, founded by Dr. Robert Atkins, was struggling to redefine itself in an era when consumers are looking beyond low-carb diet regimes as a means to lose weight. Published reports say that the company owes some US$325 million in principal and interest. In Canada, Atkins Nutritionals Inc. will ask a court to prevent the seizure of its assets as the company reorganizes in the States. Source: Canadian Grocer E-Newsletter, August 12,05. 
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