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(US) Low-Carb Pioneer Atkins Files Chapter 11

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  • AnimalConcerns.org
    NEW YORK - The company started by the late nutrition guru Dr. Robert C. Atkins to promote a low-carb lifestyle has filed for bankruptcy court protection, a
    Message 1 of 1 , Aug 1, 2005
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      NEW YORK - The company started by the late nutrition guru Dr. Robert
      C. Atkins to promote a low-carb lifestyle has filed for bankruptcy
      court protection, a further sign of the waning popularity of the diet.

      A hearing on the prearranged, Chapter 11 filing by Atkins Nutritionals
      Inc. was scheduled for Monday in U.S. Bankruptcy Court, spokesman
      Richard Rothstein said Sunday.

      The privately held company, founded in 1989 by Dr. Atkins, said it had
      reached an agreement with the majority of its lenders to give them
      equity in exchange for lowered debt.

      The company, which sells Atkins-brand nutrition bars, shakes and candy
      as well as offering low-carb diet information, has been hurt by waning
      popularity of its namesake approach, which focuses on eliminating
      carbohydrates such as bread and pasta to shed weight.

      The diet became one of the most popular in U.S. history, spawning a
      virtual cottage industry of low-carb regimens _ but also drew
      criticism from experts for its focus on fatty foods and low fruit and
      vegetable consumption.

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      full story:
      http://www.cumberlink.com/articles/2005/07/31/ap/business/d8bmv7880.txt

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