Atkins Inc is bankrupt -- long live the potato - GoFuckYourself.com

CDSmith · 08-02-2005, 02:12 PM

http://www.winnipegsun.com/News/Mani...56268-sun.html

Quote:

One of the leading low-carb companies -- Atkins Nutritionals Inc. -- filed for bankruptcy court protection on Sunday, a company spokesperson said.

Atkins had been hurt by waning popularity of its namesake diet, which focuses on eliminating carbohydrates such as bread, potatoes and pasta to shed weight.

A hearing on the prearranged, Chapter 11 filing was scheduled for yesterday in U.S. Bankruptcy Court, spokesman Richard Rothstein said. The privately held company, founded in 1989 by Dr. Robert Atkins, said it had reached an agreement with the majority of its lenders to give them equity in exchange for lowered debt.

Atkins owes $300 million US in outstanding principal and interest, Rothstein said.

The spud = no longer po-tate-owned :D

So long Fatkins. I for one won't miss it. A more evenly-balanced diet and excersise is and always will be far superior to any and all fad diets. Argue all you want, it is fact.

JFK · 08-02-2005, 02:17 PM

How in hell can they get into 300 Mill in debt ?? Perhaps its time to trim some corporate fat

pawsregd · 08-02-2005, 02:45 PM

Nice, now that they bankrupted KrispyKream

galleryseek · 08-02-2005, 02:47 PM

bahaha... OWNED.

StuartD · 08-02-2005, 02:51 PM

wasn't he a fat guy with heart problems?

bdld · 08-02-2005, 02:55 PM

i knew it would come and go, they all do

hottoddy · 08-02-2005, 02:58 PM

Easy tigers. It's just a reorganization. They went way overboard with too many faux low-carb products (which suck). Who wants a $15 low carb cheesecake that still has 25 carbs a slice? They should just stick to the bars.

After Shock Media · 08-02-2005, 03:02 PM

Quote:

Originally Posted by hottoddy

Easy tigers. It's just a reorganization. They went way overboard with too many faux low-carb products (which suck). Who wants a $15 low carb cheesecake that still has 25 carbs a slice? They should just stick to the bars.

Actually they should of stayed out of premade food all together and just whored out their name to other companies for a license fee. End up placing all the risk on those other companies and you get paid for everything that sells.

mardigras · 08-02-2005, 03:16 PM

Quote:

Originally Posted by CDSmith

The spud = no longer po-tate-owned :D

DutchTeenCash · 08-02-2005, 03:18 PM

300 damn some ppl do crazy things

Elli · 08-02-2005, 03:20 PM

They got their logo on some restaurant menus, too.

VeriSexy · 08-02-2005, 03:59 PM

Quote:

Originally Posted by mardigras

CDSmith · 08-02-2005, 05:11 PM

Quote:

Originally Posted by hottoddy

Easy tigers. It's just a reorganization. They went way overboard with too many faux low-carb products (which suck). Who wants a $15 low carb cheesecake that still has 25 carbs a slice? They should just stick to the bars.

Just a reorganization? Try reading the Financial Post some time, I did about an hour ago. The more in-depth story there says that Atkins is actually $325 million in debt, has existing assets worth $300 million, and filed for chapter 11 on Sunday.

If that's what you want to call it, then "reorganization" it is :D

woj · 08-02-2005, 05:12 PM

never bought into that crap, pretty much all the diets are worth shit...

digifan · 08-02-2005, 05:16 PM

And it wasn't healthy at all...

xNetworx · 08-02-2005, 05:17 PM

Quote:

Originally Posted by mardigras

Furious_Female · 08-02-2005, 05:17 PM

Read this yesterday... viva la cornbread

PS. This trend did irreversible damage to cookie monster too

08-02-2005, 02:17 PM	#2
JFK FUBAR the ORIGINATOR Industry Role: Join Date: Jan 2002 Location: FUBARLAND Posts: 67,374	How in hell can they get into 300 Mill in debt ?? Perhaps its time to trim some corporate fat __________________ FUBAR Webmasters - The FUBAR Times - FUBAR Webmasters Mobile - FUBARTV.XXX For promo opps contact jfk at fubarwebmasters dot com

08-02-2005, 02:51 PM	#5
StuartD Sofa King Band Join Date: Jul 2002 Location: Outside the box Posts: 29,903	wasn't he a fat guy with heart problems? __________________ This is me on facebook This is me on twitter

08-02-2005, 02:58 PM	#7
hottoddy Confirmed User Join Date: Oct 2002 Location: PacNorWest Posts: 3,048	Easy tigers. It's just a reorganization. They went way overboard with too many faux low-carb products (which suck). Who wants a $15 low carb cheesecake that still has 25 carbs a slice? They should just stick to the bars. __________________ - *** -

08-02-2005, 03:18 PM	#10
DutchTeenCash I like Dutch Girls Join Date: Feb 2003 Location: dutchteencash.com Posts: 21,684	300 damn some ppl do crazy things __________________ ICQ 16 91 547 - SKYPE dutchteencash bob AT dutchteencash DOT com ... did you see our newest Sweet Natural Girl Priscilla (18)?

08-02-2005, 03:20 PM	#11
Elli Reach for those stars! Industry Role: Join Date: Apr 2003 Location: Vancouver, BC Posts: 17,991	They got their logo on some restaurant menus, too. __________________ email: [email protected]

08-02-2005, 02:45 PM	#3
pawsregd Confirmed User Join Date: Jun 2005 Location: Montreal eh Posts: 2,290	Nice, now that they bankrupted KrispyKream

08-02-2005, 02:47 PM	#4
galleryseek Confirmed User Industry Role: Join Date: Mar 2002 Posts: 8,234	bahaha... OWNED.

08-02-2005, 02:55 PM	#6
bdld $100,000 Join Date: Dec 2001 Posts: 11,452	i knew it would come and go, they all do

08-02-2005, 05:12 PM	#14
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	never bought into that crap, pretty much all the diets are worth shit... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

08-02-2005, 05:16 PM	#15
digifan The Profiler Industry Role: Join Date: Oct 2002 Location: ICQ 76281726 and I'm female Posts: 14,618	And it wasn't healthy at all... __________________ [email protected] Webair Rocks

08-02-2005, 05:17 PM	#17
Furious_Female Confirmed User Industry Role: Join Date: Oct 2002 Location: Upstate, New York Posts: 8,187	Read this yesterday... viva la cornbread PS. This trend did irreversible damage to cookie monster too __________________ Skype: j3nn.com ICQ 160370494 My current favorite high-converting sponsor: CrakRevenue