GNC closing stores amid bankruptcy

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GNC closing stores amid bankruptcy

By Dan Ochwat - 06/25/2020

Supplements and nutrition store GNC has filed for bankruptcy, looking to close a minimum of 800 to 1,200 stores. GNC has 5,200 locations in the U.S., more internationally, and 1,600 store-within-store set ups in select Rite Aids.

Pittsburgh-based GNC Holdings has a portfolio of private brand supplements and products, including its most recent energy drink, and reached an agreement with the majority of its secured lenders and key shareholders to pursue a dual-path process that will allow the company to restructure its balance sheet and emerge as a standalone business or be sold as a going concern. 

Following the store closings, the company will shift priorities around its BOPIS strategy, and it has a robust innovation pipeline of ingredients and products to bring to market over the next three years.

GNC's largest vendor, and a joint venture partner, IVC, is working with the company to ensure a continued supply of products and advance the proposed sale of GNC's business.

Read more on the company’s filing here from sister publication RIS.