Is Gnc Going Out Of Business

Said to Dow Jones.

Is gnc going out of business. With its retail business. But GNCs debt load was still heavy for a retailer whose revenue has declined for five straight years and has posted a negative profit for three years out of the past five. The company details its plans which include agreements with lenders to restructure its business during the process.

And Canada as leases expire. The company is filing for bankruptcy due in large part to the pandemic. The GNC bankruptcy was announced by the company during a press release.

Expect the selling off of GNC Holdings Incs company-owned stores to accelerate later this year following Thursdays announcement of an 84-location deal with one of the nations largest. The Pittsburgh-based company again in my opinion will not see it past 2019 and if it does their GNC locations will continue to shrink until they exit. GNC officials had announced in November 2018 that they would close up to 900 stores over the next three years in the US.

2 Big Lots Inc. And Canada as leases expire. Listed by Moodys as among the most distressed retailers GNC has already announced 304 store closures this year according to Coresight Research.

Pier 1 is calling it quits after filing for bankruptcy protection. Were going to move in the opposite direction of oil and General Motors is going to go out of business at least according to Goldman Sachs Art Hogan chief market strategist at Jefferies Co. GNC officials had announced in November 2018 that they would close up to 900 stores over the next three years in the US.

GNC may be the poster child for overstored retailers taken down by e-commerce. GNC filed for Chapter 11 bankruptcy protection on Tuesday night announcing that it expects to close between 800 and 1200 stores while on the. A similar situation is going on with The Vitamin Shoppe and their lack of performance.