Harbin Pharmaceutical Group Holding Co.
Bankruptcy Court Approves Sale of GNC
Pennsylvania-based GNC Holdings Inc. received legal permission to sell itself to Chinese sponsor Harbin Pharmaceutical in bankruptcy court, despite recent resistance from U.S. political figures, according to Bloomberg. Bankruptcy Court Judge Karen Owens approved the health and wellness company’s plan to sell its assets to its largest shareholder and original bidder, Harbin Pharmaceutical Group Holding ...
GNC Files for Chapter 11 Bankruptcy
According to Bloomberg, Pennsylvania-based GNC Holdings Inc. filed for bankruptcy protection with the aim of selling itself and closing stores after its latest effort to manage its debt load unraveled amid the coronavirus pandemic, the company announced on Tuesday. The health and wellness company’s Chapter 11 petition filed in U.S. Bankruptcy Court in Delaware allows the ...
GNC Closing 200 Stores
According to a report posted at bloomberg.com, Pennysylvania-based GNC Holdings Inc. said it will close 200 stores this year, as the vitamin retail company cuts costs and grapples with more than $1 billion in debt. Like other retailers, GNC has been struggling with a large brick-and-mortar footprint and competition from online sellers. It operates or ...
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