(US) Low-Carb Pioneer Atkins Files Chapter 11
- 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
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