(WIAT) — GNC has filed for bankruptcy and will close up to 12 hundred stores.
This comes as the 85-year-old vitamin and dietary supplement company faces nearly a billion dollars of debt.
GNC has faced declining sales at its brick-and-mortar locations since before the pandemic.
However, the says that stay-at-home orders during the covid-19 pandemic had a “dramatic negative impact” on its business.
GNC will continue operating, but after closing 20-percent of its retail stores, it will become a smaller company.
The company hopes to emerge from bankruptcy in the fall.
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