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yeahwho
08-01-2005, 12:10 PM
Give me pasta, potatos and ice cream!

Atkins Nutritionals files for bankruptcy

CHICAGO, Aug 1 (Reuters) - Atkins Nutritionals Inc., the company behind the low-carbohydrate Atkins Diet craze, has filed for Chapter 11 bankruptcy protection, blaming slumping demand and a flood of competing products.

The company, founded in 1989, filed for bankruptcy on Sunday in the U.S. Bankruptcy Court in New York, according to court documents. A spokesman for the New York-based company did not immediately return a call seeking comment.

The Atkins diet, based on the research of Dr. Robert Atkins, promotes eating protein over carbohydrates and was so popular from 2002 through early 2004 that it was blamed for the bankruptcies of several pasta and bakery companies.

But Atkins Nutritionals said demand slumped beginning in the second half of 2004 and rival products flooded the marketplace, prompting the company to restructure and replace its management team.

For the 12-month period ended Dec. 31, 2004, Atkins said it had total assets of $301 million and liabilities of $325.1 million, according to court documents. For the same period, it recorded a loss of $340.9 million, including an asset impairment charge

Sausage Link (http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-08-01T120748Z_01_N01436689_RTRIDST_0_FOOD-ATKINS.XML)

cosmo105
08-01-2005, 12:19 PM
just now?


we can't GIVE low-carb food away at my store anymore. a year ago, we had an entire freezer dedicated to low-carb breads...they all expired. nobody bought them. we have a teeny low carb section now.

thank god. this was by far the unhealthiest diet craze i've ever seen. americans get far too much protein anyway. their poor kidneys can't handle it. and don't get me started about their colons.

i'm going to go have me some goddamn cereal and fruit.

b-grrrlie
08-03-2005, 01:32 PM
So that's why they've been trying to make Scandinavia their next victim! We didn't start getting Atkins products until resently, but they're so pricey so I've never bothered even to check what they're like.