Shares of WW International (WW), better known as WeightWatchers, rebounded slightly Thursday aft🌌er plummeting more than 60% yesterday on a report that the company is preparing to file for bankruptc💖y.

The Wall Street Journal reported Wednesday that WW International was "preparing to file for bankruptcy in the coming months as part of a plan to hand control of the business to its creditors." The company has more than $1.4 billion in loans and bonds that are coming due in 2028 and 2029, the Journal said.

In February, S&P Global downgraded WW International's credit rating after the company said it had drawn down the full $175 million of a revolving credit facility. The development signaled that "the company is in financial distress and it is increasingly likely it will default, which could include a bankruptcy or an out of court restructuring, over the next six months," S&P Global said.

Shares of W♐W International were up nearly 2% at midday Thursday after tanking 62% to 18 cents yesterday. They have been trading under $1 since early February, when reports emerged that the restructuring talks h🥀ad started.