And now, from the "I Told You So!" Files and Yahoo! News

Sudiegirl sez: I must have been one of the few holdouts when Atkins started preaching "no bread". You can do many things to me, but depriving me of bread is not one of them. Look at that picture of bread over there...be hypnotized by the loaf and its egg-yolk glaze. Be one with the bread. Bread is good. OK, now that I've lulled you into a hypnotic state, here is the grand announcement and my sarcastic comments fitting in like a glove. Yay, bread! Go, Bread!

Low-Carb Pioneer Atkins Files Chapter 11

By ELIZABETH LeSURE, Associated Press Writer Mon Aug 1, 6:04 AM ET

NEW YORK - The company started by the late nutrition guru Dr. Robert C. Atkins to promote a low-carb lifestyle has filed for bankruptcy court protection, a further sign of the waning popularity of the diet. (Yes, I believe it was Patrick Henry who said, "Give me liberty or give me bread.")

A hearing on the prearranged, Chapter 11 filing by Atkins Nutritionals Inc. was scheduled for Monday in U.S. Bankruptcy Court, spokesman Richard Rothstein said Sunday. (Bagels and cream cheese will be served afterwards in the conference room.)

The privately held company, founded in 1989 by Dr. Atkins, said it had reached an agreement with the majority of its lenders to give them equity in exchange for lowered debt. (I just thought of it...when you declare bankruptcy, you're saying you have "no bread"! I am definitely a MENSA member since I just thought of that, huh?)

The company, which sells Atkins-brand nutrition bars, shakes and candy as well as offering low-carb diet information, has been hurt by waning popularity of its namesake approach, which focuses on eliminating carbohydrates such as bread and pasta to shed weight. (boo, hiss...)

The diet became one of the most popular in U.S. history, spawning a virtual cottage industry of low-carb regimens - but also drew criticism from experts for its focus on fatty foods and low fruit and vegetable consumption. (Well, PETA should be happy about the low fruit and veggie consumption since they are living organisms as well, right? I mean, who wants to hear a carrot scream?)

The Atkins company owes $300 million in outstanding principal and interest, Rothstein said. The company said it had received $25 million in financing to operate during the bankruptcy proceedings, which it said would not affect day-to-day operations. (OK, I'll take your word for it.)

President and CEO Mark S. Rodriguez said the company has in the past year "adjusted our organization to accommodate a smaller business" and will promote its brands "more broadly for consumers who are concerned about heath and wellness." (Jeez, that's one of the most vague answers I've ever read.)

After it leaves bankruptcy, the Ronkonkoma, N.Y.-based company will focus on its nutrition bars and shakes, Rodriguez said in a statement. (Eew...will they taste like liquefied cardboard, a la Slimfast?)

A recent survey by the NPD Group, an independent marketing information company, found that the number of American adults on any low-carb diet peaked at 9.1 percent last February and dropped to 3.6 percent by mid-November. (You know why? They might miss out on the dinner rolls and all the pie! As Johnny Bravo says, "I like pie!")

Private equity firm Parthenon Capital LLC acquired a majority stake in Atkins, in October 2003. Goldman Sachs Capital Partners owns a smaller stake in the company, as does the estate of Dr. Atkins, who died in 2003 from injuries he suffered in a fall. (He fell, no doubt, because he was trying to reach the box of Krispy Kreme Donuts he hid in the pantry behind the nutrition bars.)
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On the Net:
http://www.atkins.com

Sudiegirl's final word?

White or wheat?