The New York firm filed for protection last July, after consumers gave up on the high-protein Atkins diet and the market became flooded with low-carb variants of mainstream products from the major food producers.
The company will now promote 'tasty, portable nutrition' it said.
The products, which previously numbered 340, have been reduced to only 60 by cutting back the newer categories and concentrating on the original bars and shakes. Yet none of the formulations have actually changed, said Beth Neumann, chief marketing officer at the firm.
They all contain high levels of protein, fiber and vitamins and minerals and are low in sugar and without trans fats but the range has always offered these benefits, she told NutraIngredientsUSA.com.
"We've improved the taste and quality of the products but they have always had these nutritional benefits. We're now investing to create awareness that these products have a nutritional advantage over others in the marketplace," she said.
The company currently has a 7 per cent share of the bars and shakes market and will be looking to increase this with a $40 million investment to promote the Atkins Advantage brand.
This week saw the launch of a new advertising campaign across national media.
The firm had been heavily criticized for encouraging people to eat too much fatty food and not enough fruits and vegetables. Neumann said that consumers have become more educated about nutrition and the new focus would be targeted at people aware of their dietary requirements.
The firm will also concentrate on strengthening its supply chain so that products are delivered fresher to stores, she said.
US Bankruptcy Judge Allan Gropper approved Atkins Nutritionals' reorganization plan in December. It listed $301 million of assets and $325.1 million of liabilities as of December 31, 2004.