GNC (company)
| GNC Holdings, Inc.
|
|
|---|---|
 |
|
| legal form | Inc. |
| ISIN | US36191G1076 |
| founding | 1935 |
| Seat |
Pittsburgh , Pennsylvania , United States
|
| management | Kenneth Martindale ( CEO ) |
| Number of employees | 12,400 |
| sales | 2.1 billion US dollars |
| Branch | retail trade |
| Website | www.gnc.com |
| As of December 31, 2019 | |
GNC is a US-based retailer of nutritional supplements and products of sports nutrition . In fiscal 2019, the company operated 2,902 stores of its own in the United States, Puerto Rico, and Canada, and had 956 stores operated by franchisees . A large number of the locations are operated according to a shop-within-a-shop concept in existing Rite Aid branches. Franchisees also operate branches in 50 other countries. In addition to sales in its own shops and franchising, the company generates sales in online trading and through contract manufacturing in its own production facility.
history
In 1935, David Shakarian opened a "healthy grocery" store called Lackzoom in Pittsburgh. In this he sold yogurt, honey and cereals, among other things. After six months, Shakarian expanded and opened a second branch. Four more locations were opened in the Pittsburgh area over the next few years. From the 1960s, the business began to expand beyond the state borders of Pennsylvania, in the course of which the chain of stores was renamed General Nutrition Centers . By the 1980s, the number of stores rose to over 1,000 and the company began producing dietary supplements on its own.
In June 2020, GNC filed for Chapter 11 bankruptcy. The bankruptcy petition had to be filed due to a sharp drop in sales due to the COVID-19 pandemic and a high debt burden. As part of the planned restructuring, GNC plans to close at least 800 branches. The company's largest single shareholder at the time of bankruptcy was the Harbin Pharmaceutical Group .
Web links
Individual evidence
- ↑ GNC: Kenneth A. Martindale , accessed July 12, 2020
- ↑ a b GNC: SEC-Filing Form 10-K , accessed on July 12, 2020
- ↑ a b GNC: Company Overview , accessed on July 14, 2020
- ↑ Reuters: Vitamin chain GNC files for bankruptcy, may close 1,200 stores and sell itself , accessed July 14, 2020