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GNC is the latest retailer to file for bankruptcy, closing up to 1,200 stores

June 24, 2020

Via: Fortune

Add GNC to the list of retailers too fragile to withstand the stress on their business from the COVID-19 pandemic.

GNC’s parent company, GNC Holdings Inc., filed for Chapter 11 bankruptcy protection late Tuesday, and the health and wellness retailer said it plans to close “at least 800 to 1,200 stores,” or approximately a quarter of its North American fleet. GNC was slammed by yearslong sales declines that made it impossible to meet enormous debt obligations coming due this year.

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