GNC Declares Bankruptcy

The retailer will close at least 800 U.S. stores as part of reorganization
Posted June 30, 2020

Vitamin and supplement retailer GNC (Pittsburgh, Penn.) has declared bankruptcy and will close 800 its 7300 stores, according to Al.com.

The business has “been under financial pressure for the past several years” but the pandemic has “created a situation where we were unable to accomplish our refinancing and the abrupt change in the operating environment had a dramatic negative impact on our business.”

The retailer will stay in business while it goes through the Chapter 11 reorganization process.