Atkins Nutritionals Inc. goes bankrupt

Tuesday, August 2, 2005

Atkins Nutritionals Inc, the multi-million dollar company that supplies dieters with low carb foods designed for the famous Atkins diet has filed for bankruptcy. The popularity of the Atkins diet has fallen sharply so far this year leading to a drop in sales at Atkins Nutritionals Inc.

The company which has filed for chapter 11 bankruptcy protection in a Manhattan court lost over $340 million last year. This is despite the fact that there are now believed to be over 30 million followers of the diet in the USA.

Administrators were appointed to the British division of Atkins Nutritionals just six months ago after a string of poor sales results and mounting debt. Three million people in Britain follow the diet.

Robert Atkins, the American cardiologist who started the diet, died in April 2003 after sustaining head injuries from a fall outside his New York office and falling into a coma. Rumors have circulated regarding the cause of his death, and medical records show that he suffered from hypertension and congestive heart failure prior to his fall. It is not known if the two were related.