What is gnc number

But they also expressed worries about the speed of the case, as laid out by the DIP milestones. Despite the contested financing — which a judge approved Thursday over the bondholders' objections — GNC's prospects for exiting bankruptcy are lifted by multiple parties' willingness to take it on as an operating company. Other retailers that have entered bankruptcy with mere hopes for a suitor or a reorganization plan have not faired nearly as well. That was the case with Pier 1, which ultimately opted to liquidate , and Stage Stores may suffer the same fate in the coming months as well.

Along with closing stores, the company plans on investing in its omnichannel services, including a buy online pickup in-store BOPIS option to launch later this year.

Fitch analysts said in a note this week that they believe that " despite its challenges, GNC has a viable position in the retail marketplace, as a segment leader in the vitamin, mineral and health supplement space with good brand recognition, a sticky customer base, and positive cash flow.

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Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Search x. An article from. Published June 26, Ben Unglesbee Senior Reporter. Cara Salpini for Retail Dive.

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The restructuring involves the closure of 29 GNC stores in Canada, approximately half of which are in Ontario. A full list is available here. The affected stores are a small portion of the company's overall presence in Canada, which it says includes more than retail outlets.

Many of the company's stores have been temporarily closed due to restrictions brought on by the COVID pandemic. The Canadian closures are only a small part of the retailer's larger plan, which involves shuttering between and 1, stores worldwide, mainly in the U. As of March 30, the company had 7, stores globally, including 5, in the U. Only locations earmarked for closure have been publicly announced, meaning more Canadian locations could be added to the final tally.

It is not clear how many jobs will be affected by the closures. The company said it will honour existing gift cards, maintain its loyalty program, and keep its existing policies for returns and refunds. The company said it has obtained financing from its largest supplier and hopes to emerge from bankruptcy later this year. In a statement posted on its website , GNC said it had been facing financial difficulties for several years, which were exacerbated by the pandemic, leading to the decision to begin a bankruptcy proceeding.

GNC said other plans that it hopes will lead it to a better financial situation include launching an online ordering portal and introducing new products. READ MORE: As retail closures accumulate, thousands more expected The company said it has obtained financing from its largest supplier and hopes to emerge from bankruptcy later this year. Related Stories Reopening businesses struggling to lure staff back to work.

Retail sales plunged Related Links GNC announcement. List of closing GNC stores.