FATKINS NOOOOOOOOOOOO!
Atkins files for bankruptcy
LOS ANGELES (Reuters) - The company behind the Atkins Diet, standard bearer for the low-carbohydrate diet craze that put some bakeries and pasta makers out of business in its heyday, has itself filed for bankruptcy as U.S. consumers have tired of the once-sizzling fad.
Atkins Nutritionals Inc., which filed for Chapter 11 bankruptcy on Sunday in New York bankruptcy court, said there was still a bright future for the company in weight loss. It plans to pare back its operations to focus on selling nutrition bars and shakes.
Based on research done by weight-loss guru Dr. Robert Atkins, the Atkins diet promotes eating proteins like meat and cheese while excluding carbohydrates such as bread and pasta.
Atkins and other low-carb regimens such as the South Beach and Zone diets were so popular from 2002 through 2004 that the trend was blamed in part for the bankruptcies of pasta maker New World Pasta Co. and Twinkies and Wonder Bread maker Interstate Bakeries Corp.
At the same time, however, the diet received widespread criticism from nutritionists who said it encouraged people to overeat fatty foods like bacon.
The low-carb craze peaked in early 2004, when over 9 percent of U.S. adults claimed to be on such a diet, according to market research firm NPD Group. That figure declined to 2.2 percent last month.
"The low-carb trend has sort of died on the vine," said Bob Goldin, executive vice president at Chicago-based food industry consulting firm Technomic Inc.
Atkins has said demand for its products began to slump at the end of 2004 as rival food companies, including heavyweights like Kraft Foods Inc., flooded the market with everything from low-carb Oreo cookies to cereal.
At the same time, Atkins faced increased scrutiny by critics. In particular, the death of company founder Robert Atkins after a fall in April 2003 led to much negative publicity when reports claimed he had been overweight and suffered from a heart condition.
***
Wow. I didn't know it became THAT unpopular. Jeez.
::cracks open Michelob Ultra::
Here's to you Atkins!
LOS ANGELES (Reuters) - The company behind the Atkins Diet, standard bearer for the low-carbohydrate diet craze that put some bakeries and pasta makers out of business in its heyday, has itself filed for bankruptcy as U.S. consumers have tired of the once-sizzling fad.
Atkins Nutritionals Inc., which filed for Chapter 11 bankruptcy on Sunday in New York bankruptcy court, said there was still a bright future for the company in weight loss. It plans to pare back its operations to focus on selling nutrition bars and shakes.
Based on research done by weight-loss guru Dr. Robert Atkins, the Atkins diet promotes eating proteins like meat and cheese while excluding carbohydrates such as bread and pasta.
Atkins and other low-carb regimens such as the South Beach and Zone diets were so popular from 2002 through 2004 that the trend was blamed in part for the bankruptcies of pasta maker New World Pasta Co. and Twinkies and Wonder Bread maker Interstate Bakeries Corp.
At the same time, however, the diet received widespread criticism from nutritionists who said it encouraged people to overeat fatty foods like bacon.
The low-carb craze peaked in early 2004, when over 9 percent of U.S. adults claimed to be on such a diet, according to market research firm NPD Group. That figure declined to 2.2 percent last month.
"The low-carb trend has sort of died on the vine," said Bob Goldin, executive vice president at Chicago-based food industry consulting firm Technomic Inc.
Atkins has said demand for its products began to slump at the end of 2004 as rival food companies, including heavyweights like Kraft Foods Inc., flooded the market with everything from low-carb Oreo cookies to cereal.
At the same time, Atkins faced increased scrutiny by critics. In particular, the death of company founder Robert Atkins after a fall in April 2003 led to much negative publicity when reports claimed he had been overweight and suffered from a heart condition.
***
Wow. I didn't know it became THAT unpopular. Jeez.
::cracks open Michelob Ultra::
Here's to you Atkins!