GNC Files Bankruptcy & Announces Closure of 1,200 Stores
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Another company is closing stores because of coronavirus!
GNC recently announced that they have filed Chapter 11 bankruptcy and will be closing as many as 1,200 of their 4,800 U.S. stores. However, their 1,000+ franchise stores will not be affected.
Prior to the pandemic, the 85-year-old health and nutrition retailer was looking to close around 900 underperforming stores in an attempt to refinance the business, pay off debt, and ensure long-term growth. However, the pandemic has made this plan impossible.
Currently, select retail stores are open for business and offering curbside pick-up. Stores that are still closed due to the pandemic will reopen as quickly as possible in accordance with government guidelines.
GNC is accelerating the closure of the 1,200 affected stores, but some stores may remain open for a period of time before permanently closing. All stores fully intend to uphold loyalty points, store memberships, and gift cards.
To check if your local store is closing, head here.
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Boo, I get my elderberry capsules here. Luckily, right now, only 1 store in Alabama is closing. Hope some remain open.
I am beyond surprised that ours is NOT on the list. No one is ever shopping in there.
No surprises. Their vitamins and supplements were overpriced and the staff was pushed hard to upsell customers.
Sad that people will lose their jobs. But not surprised. It’s too expensive.
A lot of these small stores have better deals online. For example gnc and children’s place.
I am surprised it survived as well as it did. I agree with an above post…there are/or were a few in RI and if i walked in it was always only the cashier and me. Lol
Nooooooo!!! This is terrible news, but it’s good to know. Thanks for sharing these kinds of things and keep us in the know.
I’m not going to pay for a card to get a discount once a month, if it works they wont sell it anyways.