Posted on 07/31/2005 5:35:50 PM PDT by SmithL
NEW YORK - Atkins Nutritionals Inc., the company that promoted low-carb eating into a national diet craze, filed for bankruptcy court protection Sunday, a company spokesman said.
Atkins has been hurt by waning popularity of its namesake diet, which focuses on eliminating carbohydrates such as bread and pasta as a way to shed weight. The diet quickly became one of the most popular in U.S. history, spawning numerous derivatives and a virtual cottage industry of low-carb regimens - but also drew criticism from many experts for its focus on fatty foods and low fruit and vegetable consumption.
A hearing on the prearranged, Chapter 11 filing was scheduled for Monday in U.S. Bankruptcy Court, spokesman Richard Rothstein said. The privately held company, founded in 1989 by Dr. Robert C. Atkins, said it had reached an agreement with the majority of its lenders to give them equity in exchange for lowered debt.
President and CEO Mark S. Rodriguez said the company has in the past year "adjusted our organization to accommodate a smaller business" and will promote its brands "more broadly for consumers who are concerned about heath and wellness."
After it leaves bankruptcy, the Ronkonkoma, N.Y.-based company will focus on its nutrition bars and shakes, Rodriguez said in a statement.
Private equity firm Parthenon Capital LLC acquired a majority stake in Atkins, in October 2003. Goldman Sachs Capital Partners owns a smaller stake in the company, as does the estate of Robert Atkins, who died in 2003 from injuries he suffered in a fall.
The company said its bankruptcy filing would not affect its day-to-day operations.
1. My kindest thought is that you call it a "fad" because you know absolutely nothing about it.
2. This news surprises me.
Dan
Yep, then next fad will be based around eggplants, turnips, and slugs.
my aunt did this ...
she lost a lot of weight real quick, then had major kidney problems and diverticulitis. After hearing her troubles Doctor asked her, " So lemme guess, Atkins diet?" He'd been seeing it all over I guess.
I tried it myself for a bit, but i can't even follow simple diets, oh well, I still have good kidneys and colon...hehe
If you want to lose weight, eat a lil better, exercise a lil more.....amazing results guaranteed!
Uh-oh...you are in trouble now...this board was/is full of diet of the month/moment fans....
Uh-oh...you are in trouble now...this board was/is full of diet of the month/moment fans....
hiccup...
"Another fad bites the dust, at least until it comes `round again."
Nope, the company may be in trouble, but the way of eating is here to stay. They got into trouble selling diet foods, the books are still great sellers.
Actually, I think it morphed into the South Beach diet. The underlying principles are sound, but amenable to refinement.
The Olive Garden is avenged.
I'm not surprised. The "Atkins" products were appearing in the discount bin of my local QFC months ago. Now onto the Coke diet. Heck, maybe they'll bring back the Ayds diet.
Actually it's just been superseded by it's even more popular offspring the "South Beach Diet".
If one wants to lose weight, keep the mouth shut. Especially around food.
-PJ
Ironically, he was unable to trim corporate fat fast enough to save the company's life.
Nah, those who are most successful low carbing know that these frankenfoods stall weight loss. Truth is those who keep it simple and just use real food do best.
Atkins is a fad?
Its followers treat it more like a relgiion.
My wife's sister can argue the bark off a tree. And then get her started on Atkins and she is really testy!
She claims that she is such a big believer because she lost 36 pounds on Atkins after failing at every other diet.
(Of course she put on 45 pounds after she failed to STAY on the diet, but that's another story.)
most of the Atkins stuff is actually pretty sensible, so long as you don't take it to extremes.
for example, the processed foods and corn syrup diet we Americans eat isn't particularly healthy.
If you want to drop weight and be healthier try the following:
1. don't eat out for 30 days straight. I'm serious. Everything you eat you must make yourself. You'll save money and eat healthier. Try healthier foods. Cook in volume if youre lazy.
2.Avoid pop. ( As a diet coke addict, I'm guilty, too)Try tea, or gasp...ice water.
3. Sneak in a little exercise. You don't have to become Arnold, but nightly walks, etc. do wonders. If you're up for it, find a physical hobby. even gardening will get you some exercise.
4. Turn Off the TV, Step Away from the Computer. TV stimulates your desire to eat, and turns your brain into mush in the process.
5. Stop smoking if you smoke. it's better to be addicted to nicotine gum if you need a fix.
and you can do all of this of your own free will.
If you want to change your life, then change it.
it really is that simple.
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