Coney
08-01-05, 12:17 PM
:hamster: :sunny: :boobies: :D
AP
Mon Aug 1, 6:04 AM ET
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.
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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.
(for more, go here: http://news.yahoo.com/s/ap/20050801/...ins_bankruptcy
)
AP
Mon Aug 1, 6:04 AM ET
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.
ADVERTISEMENT
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.
(for more, go here: http://news.yahoo.com/s/ap/20050801/...ins_bankruptcy
)