Retailer GNC has announced that it has filed for Chapter 11 bankruptcy and will close a significant number of stores.
This is taking place as the company pursues the sale of its business.
According to a press release, GNC shared that “With the support of its lenders and key stakeholders, the Company expects to confirm a standalone plan of reorganization or consummate a sale that will enable the business to exit from this process in the fall of this year.”
As a part of the plan, GNC says that it will “…accelerate the closure of at least 800 to 1200 stores.”
As of March 31, GNC had 7,500 locations worldwide, including 5,200 retail locations (of which 1,600 are within Rite Aid pharmacies).
Business Insider has posted a list of the 248 first locations to be closed. This initial list does not include the Richland Mall location, but does include Ohio stores in Dayton, Gallipolis, Heath, Mason, Monroe, Perrysburg, Piqua, Sandusky, Strongsville, Westlake, and Wilmington.
GNC is a retailer of health and nutrition related products, including vitamins, supplements, minerals, herbs, sports nutrition, diet, and energy products.