The Buzz: GNC files for bankruptcy, to close hundreds of stores including Neenah – Appleton Post Crescent
Published 1:09 PM EDT Jun 24, 2020
GNC filed for bankruptcy late Tuesday and plans to close between 800 and 1,200 stores, up to about 20% of its locations.
The closure list includes the Neenah GNC store at 681 S. Green Bay Road.
GNC’s greater Appleton area stores, inside the Fox River Mall in Grand Chute and in Buchanan, are not on the closure list and remain open.
Several locations in central Wisconsin, including one in Marshfield and another in Wisconsin Rapids, are on the closure list.
The store sells vitamins and nutrition supplements.
GNC announced last November that it planned to restructure to reduce debt. It planned to close about 900 stores. Its restructuring plans were complicated by the COVID-19 shutdown in March.
“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,” it said in a release.
USA TODAY: GNC parent company files for bankruptcy protection, plans to permanently close up to 1,200 stores
Contact reporter Maureen Wallenfang at 920-993-7116 or [email protected] Follow her on Twitter at @wallenfang.
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