GNC Files For Bankruptcy

Post Reply
Alpha8472
Valued Contributor
Valued Contributor
Posts: 1516
Joined: February 24th, 2009, 8:55 pm
Has thanked: 3 times
Been thanked: 48 times
Status: Offline

GNC Files For Bankruptcy

Post by Alpha8472 » June 25th, 2020, 3:16 pm

GNC has filed for Chapter 11 bankruptcy. The company will close 800 to 1,200 stores.

jamcool
Platinum Member
Platinum Member
Posts: 390
Joined: March 5th, 2009, 10:27 pm
Been thanked: 10 times
Status: Offline

Re: GNC Files For Bankruptcy

Post by jamcool » June 25th, 2020, 3:48 pm

Another company that is majority Chinese owned

Super S
Valued Contributor
Valued Contributor
Posts: 1768
Joined: April 1st, 2009, 9:27 pm
Has thanked: 9 times
Been thanked: 35 times
Status: Offline

Re: GNC Files For Bankruptcy

Post by Super S » June 25th, 2020, 6:28 pm

I wonder if that one is still open in the mall in Aberdeen, WA, which, as of a few years ago, still had signage with a very short-lived logo used around the early-to mid 90s.

storewanderer
Valued Contributor
Valued Contributor
Posts: 5323
Joined: February 23rd, 2009, 3:54 pm
Been thanked: 156 times
Contact:
Status: Offline

Re: GNC Files For Bankruptcy

Post by storewanderer » June 25th, 2020, 9:18 pm

I rarely see these GNC Stores selling anything. I don't know how they make the sales to even pay their payroll. Mostly private label product. The few times I've gone in, I've rarely found what I need. Vitamin World (also went bankrupt, also mall based) seemed to be similarly useless but with a few more national brand items. Vitamin Shoppe in Reno wisely located in the parking lot of Whole Foods in an old Blockbuster and does quite well; larger space and more variety than the others. I order these items online from various providers due to price reasons. I have in the past gotten the Vitamin Shoppe store to do price matches with online though.

Alpha8472
Valued Contributor
Valued Contributor
Posts: 1516
Joined: February 24th, 2009, 8:55 pm
Has thanked: 3 times
Been thanked: 48 times
Status: Offline

Re: GNC Files For Bankruptcy

Post by Alpha8472 » June 26th, 2020, 1:17 am

Online shopping has taken its toll on GNC. There is no reason to go there unless you want to pay more or are desperate for something right away.

The Vitamin Shoppe near me is also in a former Blockbuster. It is sad that so many retail stores are no more. I remember when you could actually go into a store and see the product instead of having to shop online and look at pictures.

buckguy
Gold Member
Gold Member
Posts: 204
Joined: January 31st, 2017, 10:54 am
Been thanked: 22 times
Status: Offline

Re: GNC Files For Bankruptcy

Post by buckguy » June 26th, 2020, 5:24 am

They've stayed in malls because they could afford the rents---their merchandise carries enormous markups and much of it is faddish stuff based on questionable claims which means they probably get a lot of volume at any one time from a small number of items.

BillyGr
Veteran Member
Veteran Member
Posts: 583
Joined: October 5th, 2010, 7:33 pm
Has thanked: 1 time
Been thanked: 12 times
Status: Offline

Re: GNC Files For Bankruptcy

Post by BillyGr » June 26th, 2020, 5:08 pm

Alpha8472 wrote:
June 26th, 2020, 1:17 am
Online shopping has taken its toll on GNC. There is no reason to go there unless you want to pay more or are desperate for something right away.

The Vitamin Shoppe near me is also in a former Blockbuster. It is sad that so many retail stores are no more. I remember when you could actually go into a store and see the product instead of having to shop online and look at pictures.
Also understandable in these types of items - once you've bought something once, it's pretty easy to know what it is and order it from a picture or brief description. After all, if you take Vitamin X in Z dosage, there's not too much difference which place you get it from, unless (as you said) you realize that you took the last one today and need more for tomorrow.

cjd
Platinum Member
Platinum Member
Posts: 316
Joined: August 18th, 2018, 6:54 am
Has thanked: 17 times
Been thanked: 34 times
Status: Offline

Re: GNC Files For Bankruptcy

Post by cjd » June 26th, 2020, 6:18 pm

I'm kind of surprised about this given GNC is often one of the last chains to remain in deserted malls.

The one in the mall here actually relocated into a newly remodeled in line space in the mall, in order to make way for the Planet Fitness, with new signage and all. There is also a Vitamin World in the mall which also looks fairly modern with wood floors, etc.

Post Reply