Atkins Nutritionals Inc., the company behind the low-carbohydrate Atkins Diet craze has filed for bankruptcy protection.
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. It is estimated that as many as 30 million Americans have tried the diet.
Atkins Nutritionals said demand began to slump in the second half of 2004 and rival products flooded the marketplace, prompting the company to restructure and replace its management team.
Critics have argued that the high-protein diet encourages people to eat too much fatty food like bacon, and could pose health risks. One man sued the company last year claiming that the diet caused him severe heart disease. Atkins Nutritionals has maintained the claim is without merit.
The company said there is still a bright future for them in weight loss and nutrition and that they will focus on nutrition bars and shakes once they come out of bankruptcy protection.
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