Tuesday, May 12, 2020

GNC says Ch. 11 is a possibility as pandemic hits sales and profits

Retail Dive
Nutrition supplement retailer GNC has been battered by the coronavirus pandemic, with its comparable sales down 10.1% in the first quarter, the company reported.

The company recorded a $157.5 million asset impairment related to disruption from COVID-19. That led to a net loss of $200.1 million for Q1, wider by more than 1200% than its net loss from the prior year.. . . more