The lockdowns have claimed another victim.
GNC Holdings Inc, the vitamin and herbal supplement retailer, has filed for bankruptcy, with plans to close at least 800 to 1,200 locations. It has a total of 4,691 locations.
The company filed for Chapter 11 protection late Tuesday night in the U.S. bankruptcy court in Wilmington, Delaware.
GNC had been trying to reduce its nearly $900 million debt load amid falling sales at its brick-and-mortar stores when the coronavirus pandemic forced thousands of locations to close temporarily, cutting off a major revenue source, notes Reuters.
-RW
This must be the most poorly managed company in history, since demand for zinc, Vitamin D, and Vitamin C supplements has skyrocketed in 2020! Vitamin Shoppe keeps running out of my supplies.
ReplyDeleteProlly for the best. Supplements are mostly junk garbage
ReplyDeleteDepends what ingredients are in it.
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