WW International (NASDAQ: WW ) Inc., known as WeightWatchers, is negotiating with its lenders to exchange a portion of its almost $1.5 billion debt for equity, Bloomberg News reported. This move could lead to creditors gaining control of the company, which has been grappling with a decline in revenue and heightened competition from newer weight-loss drugs. The diet and wellness company, once a dominant player in the industry, has been exploring options to manage its substantial debt as it faces financial challenges. The ongoing discussions have not yet resulted in a definitive agreement, and the parties involved have requested anonymity due to the sensitivity of the negotiations. WeightWatchers is collaborating with PJT Partners Inc (NYSE: PJT ). for financial guidance, while a group of its creditors has sought the expertise of Houlihan Lokey Inc (NYSE: HLI ). and law firm Gibson Dunn & Crutcher to represent their interests in the matter.