GNC files for bankruptcy

Consumer Alerts

(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.

LATEST POSTS

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

TRENDING STORIES

CBS 42 Cares

See more on CBS 42 Cares page