GNC is bankrupt

[zarathustra]

GNC has filed for bankruptcy, warning it will close up to a quarter of its stores and search for a buyer.

The 85-year-old vitamin and dietary supplement company has been saddled with nearly $1 billion of debt and has faced declining sales at its brick-and-mortar locations since before the pandemic. However, GNC said that stay-at-home orders during the Covid-19 pandemic prevented the company from accomplishing its refinancing plans because of the abrupt "dramatic negative impact" on its business.

GNC will continue operating, but it will become a smaller company. It plans to close up to 20% of its 5,800 retail stores, which amounts to as many as 1,200 locations across the United States. GNC also sells its products in an additional 1,200 Rite Aid (RAD) stores.

It obtained $130 million in fresh financing from its largest vendor, vitamin supplier IVC, to help it restructure. GNC aims to emerge from bankruptcy in the fall.

[DummyVariable]

Labor brand.

Lite

[mustang302]

Wt the frock..!

Thank, ippudae gnc .com lo ki poi products purchase chayyali ithae😂

[mustang302]

1 minute ago, DummyVariable said:

Labor brand.

Lite

Agreed..!

[zarathustra]

1 minute ago, mustang302 said:

Agreed..!

Always been overpriced so it's not a surprise, plus they are mostly based in malls and with the absence of foot traffic in malls in recent years they have been struggling even before covid 19. 

With covid 19, they got the knockout punch

[zarathustra]

3 minutes ago, DummyVariable said:

Labor brand.

Lite

Vitamin Shoppe is even worse and definitely more overpriced. Wonder how they are still in business

[DummyVariable]

3 minutes ago, zarathustra said:

Vitamin Shoppe is even worse and definitely more overpriced. Wonder how they are still in business

Whey dependency thagginchatam better.

Right now mostly natural diet ki shift chesa. Choodali.

[mustang302]

4 minutes ago, DummyVariable said:

Whey dependency thagginchatam better.

Right now mostly natural diet ki shift chesa. Choodali.

Wts ur diet vuncle?

[Michaelbarbosa]

21 minutes ago, DummyVariable said:

Whey dependency thagginchatam better.

Right now mostly natural diet ki shift chesa. Choodali.

I haven't been taking whey since 8 months but I have a package of whey protein which is due this year end I have to finish it off. 

[DummyVariable]

40 minutes ago, mustang302 said:

Wts ur diet vuncle?

Resetting it with the one below

For the first two weeks
Morning

8:00 Boiled eggs, half avocado and boiled spinach

10:00 Apple/ Pear with two tbsp Almond butter/sesame butter

12:30-45 Lunch Chicken breast/ Fish Filet with veggies(broccoli, kale, greens)

4:00 Almonds handful

7-8: Dinner Fish/ chicken breast with asparagus/brussel sprouts/dark greens etc

No eating after dinner. 12 ounces of water every two hours. No grains, legumes or dairy for two weeks. Week 3 introduce some legumes, small quantities of grains(oats) and maybe some Butter Milk/Rasam. Will repeat based on results.

 

[Gentle_Boy]

Thanks for the post...

Just now bought few stocks without knowing the news...and sold off everything...after looking at this news.