Low-Carb Pioneer Atkins Files Chapter 11

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. 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. 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.