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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGNC is closing 248 stores after filing for bankruptcy. Here's the full list.
GNC filed for Chapter 11 bankruptcy protection on Tuesday night, announcing that it expects to close between 800 and 1,200 stores while on the hunt for a buyer for its business.
In a letter to shoppers, GNC said the COVID-19 pandemic "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."
GNC identified 248 stores that will close imminently as part of the restructuring process. Stores are closing in 42 states, as well as in Puerto Rico and Canada.
https://www.msn.com/en-us/money/companies/gnc-is-closing-248-stores-after-filing-for-bankruptcy-here-s-the-full-list/ar-BB15VjiL?li=BBnbfcN&ocid=DELLDHP
Thomas Hurt
(13,903 posts)marble falls
(57,093 posts)Dem2theMax
(9,651 posts)Takket
(21,570 posts)Newest Reality
(12,712 posts)If you close your eyes you can see it. Just look! It's right here in plain sight. A real spiffy economy with a Wall St. cherry on top. Yep.
Oh, and if you tap your heals together three times and say, "There's no place like recovery." you get there. Did I mention ruby slippers?
Backseat Driver
(4,392 posts)after this first chop...for the time being.
JI7
(89,250 posts)to improve their health. though i don't know how effective their products are.
Xolodno
(6,395 posts)....and every mall has a GNC. Add to that, even several strip malls have a GNC. They are the McDonald's of vitamins and supplements.
Which aren't always useful....and at GNC, cost a shit load.
Add to that, they are small and don't carry too many products....whereas the larger competitors have far fewer stores, but more real estate and carry a better selection.
If they find a buyer...they are going to close down a shit load more.
pstokely
(10,528 posts)the malls with little foot traffic, people still go malls to look at things they can get cheaper online
Cirque du So-What
(25,939 posts)Sometime over the next few years, they transitioned to a supplements-only store with no foods whatsoever. I always thought they missed the opportunity that Whole Foods filled.
Demovictory9
(32,456 posts)Cirque du So-What
(25,939 posts)I used to purchase on average $40/week - they even had coolers and freezers. It was amazing the amount of stuff they crammed into a mall store.
pstokely
(10,528 posts)that you can get cheaper elsewhere
Silent3
(15,212 posts)There's just way too much pseudoscience, a lack of regulation, and a lack of quality control in the supplements industry.
pstokely
(10,528 posts)they also seem to be the last to leave dying malls with little foot traffic
Sunsky
(1,737 posts)The one closest to me is on the list. There are several in the area though. I hate seeing store closures because that means people are losing their jobs.
This reminds me that I need to restock my son's vitamins.