When do gnc stores open

GNC joins a number of large companies, including the retailer Neiman Marcus and the car rental company Hertz , that have filed for bankruptcy since early May.

GNC had nearly 5, locations at the end of last year. GNC emphasized in a press release that the company and its remaining stores will continue to be open for business. The company has been temporarily offering curbside pickup during the pandemic and said it plans to make a "buy-online-pick-up-in-store" option permanent as part of its restructuring.

Retail stores face uphill battle during pandemic. Please enter email address to continue. But, she said, GNC does not expect that "the reopening of additional stores will generate near-term revenue that comes close to the Company's pre-pandemic in-store revenue. The pandemic also derailed the company's effort to refinance its debt, sending it into court for help.

GNC has a plan to exit bankruptcy. Actually, it has two plans. In one scenario, it would shed debt and turn itself over to a group of lenders holding a sizable chunk of its debt.

GNC also said in a press release that it plans to close to 1, stores — a significant number that would nevertheless leave it with a sizable footprint. A sale, if it happens, would run through an auction process, which could fetch other prospective buyers and higher bids. A group of bondholders have objected to aspects of GNC's Chapter 11 plans. Specifically they took aim at the retailer's proposed debtor-in-possession financing, which exists to keep companies liquid and operating healthily through the court process.

In part, the group was concerned about how much of GNC's bankruptcy loan rolls up pre-bankruptcy debt by replacing it and, potentially, giving those secured lenders priority treatment through the Chapter 11 process. 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.

Follow Ben Unglesbee on Twitter. Stores have always evolved in order to compete as times, technology and tastes change. And, most of all, to please customers. They are charismatic, smart and savvy. But no one person can change an industry. Keep up with the story. Subscribe to the Retail Dive free daily newsletter. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more.

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