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.
There have been so many millionaires made by people who come up with a "new diet craze" to tap the fat chick market, it makes my head spin. Harold Katz was even able to buy the Philadelphia 76ers! I gotta get into that business - - maybe write a book.
This is the crux of the plan. The problem is too many folks refuse to read the book and follow it as it was written. The restrictive part was only for two weeks and then you gradually added in the carbs to where you stopped losing weight and then cut back 5g a day until you reached your goal weight.
You hit the nail on the head. I use some Atkins products as I am diabetic. But there are other cheaper and better tasting products out there.
You are correct that Atkins would have been better off to sell the rights to the name. However, at the time they started making some of their lo-carb foods, I don't think there were many companies actually making them. I know when I first tried some Atkins snack bars, I was in hog heaven. Now all the candy makers, etc., make them, and the new ones taste just like their sugared counterparts.
8-track tapes, Penguins, the Democrat party and now Atkins.
Sheesh, this isn't rocket science. ;-)
I have a copyright on this new diet. Please cease and desist on infringement of that copyright.
Next up: TurnSlugPlant Shakes, on the Laz Diet Channel.
Eggplant no way!!! Slugs good with Slimfast and cheeewiz!
don't know, not a doctor, though I play one here on FR...hehe
My knowledge of it came as her doctor explained it to her. part of the Atkins system is to properly hydrate, as even Dr. Atkins admitted that high protein diets are hard on the kidneys.
She probably wasn't drinking enough pure water.
This wouldn't suprise me.
And her lack of fiber can be blamed on eggs and bacon meals, or just plain not doing it right.
I guess the real answer comes from the fact that her and her husband were both overweight, But had no real physical problems.
Then comes the steak and eggs craze, and they drop weight, but develop other problems.
Chicken and egg I guess.
I should mention that they are both in their 50's with years of bad dieting and little exercise, so to blame all of the newfound health problems on 12 months of Atkins might be a bit of a stretch. But it's a good indicator.
I tried it myself for a while, but it made me very squirrelly, mentally. So I abandoned it in favor of calorie-restriction.
I simply ate about 20% less calories than the calorie calculators said I needed to maintain my weight, and exercised like there was no tomorrow. I've lost more than 50 lbs and I'm still shrinking.
Effective, and no SquirrellyLaz.
Racist.
Dozens of reports are coming out about the country being more and more obese just as the Atkins folks go bankrupt. Coincidence? I think not. I smell government conspiracy. The Atkins folks were sabotaged by socialist government agents.
I did Atkins and lost nearly 40 lbs 3 years ago, but over the last year I've put almost half of that back on and was having a hard time getting started back on the Atkins diet.
So recently my wife got me and our oldest daughter to join her in trying the South Beach Diet. I was on it for a week and was absolutely miserable. I was hungry ALL the time.
I guess what I like about Atkins is being able to eat as much as you want of the zero-carb foods. When I first went on it, after about 2 days my appetite went WAY down and I didn't feel like snacking. On the South Beach Diet that never happened and it seemed like that glass of tomato juice in the morning stimulated my hunger more than anything could have.
i've tried em all, and they all have some wisdom to offer, so long as you don't believe the hype.
My life as a vegetarian failed due to the enticing smells of barbecue.Plus the cult of vegetarians tended to annoy me.
My short Atkins phase was overcome by pasta and pizza cravings. Plus the Atkins types were kinda like the Scientologist of Food.
And admittedly, I'm too cheap to buy any special "New Diet Fad Co." foods.
So I was left with eating sensible portions of a variety of good foods, eating less fast food, drinking less sugar laden pop, and exercising at least semi-seriously....
Now I'm "'Right Dead Sexy, Baby, Yeeaahh."
or, close..
My suggestion: Don't eat so much and exercise.
Hey, money's called BREAD, isn't it?
No, actually not. The high weight reported for him at death was due to massive water retention brought on by medications used to treat him for his injuries. The false notion that it was somehow diet related was spread by a "physician's organization" started and run by a PETA figurehead.
Way to go!
:-/
Thanks :)
I did it more with a balanced approach but I learned valuable information from Dr. Atkins and a few other low to moderate carb plans.
What I can infer from your remark is that you have determined through emperical data that being near a K Mart store causes death.
Is that what you are saying?
Kresge did not found K Mart, he founded Kresge's. How weird.
Taking a quantum leap, based upon your spurious argument, one then could surmise that starting a department store chain leads to death.
Get real.
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