San Diego, CA—Beginning in early 2022, consumers will be able to purchase CV Sciences’ +PlusCBD brand in 770 GNC locations, according to a press release. The initial product assortment will include the following items: Extra Strength Formula; Cherry Mango Gummies – 10mg CBD per gummy, 30 count Extra Strength Formula;...
College Station, TX—Podium Nutrition has entered into an exclusive retail partnership with GNC, according to a press release. Podium will be available online at GNC.com and in all GNC stores across the United States. Podium was formed by five-time CrossFit champion Mat Fraser, “The Buttery Bros” Heber Cannon and Marston...
GNC Holdings Inc. has received approval for a bankruptcy reorganization plan centered around a $770 million sale to Harbin Pharmaceutical Group Holding Co., its largest shareholder, according to Bloomberg Law. The sale raised security concerns when the plan was put into motion in September. The plan will keep open at...
Pittsburgh, PA—GNC Holdings, Inc. has canceled its auction and now aims to sell the company to China-based Harbin Pharmaceutical Group Holding Co. As Bloomberg reported, GNC said that since no other qualified bids had emerged by last week’s deadline, the company is seeking approval to sell its assets to Harbin,...
Pittsburgh, PA—GNC Holdings, Inc., has filed for Chapter 11 bankruptcy, with a commitment from certain term lenders to provide $100 million in “new money” debtor-in-possession financing and $30 million from modifications to the existing ABL credit agreement, according to Seeking Alpha. All franchise partners, as well as corporate entities outside...
Pittsburgh, PA—GNC has reached an agreement with lender groups to further extend the springing maturity dates for certain loans, according to a press release. Previous reporting noted that GNC’s Tranche B-2 term loan, FILO term loan, and revolving credit facility all feature springing maturities that could be accelerated from August...
Pittsburgh, PA—GNC has reached an agreement with required lender groups to extend the springing maturity dates for certain loans, according to a press release. GNC’s Tranche B-2 term loan, FILO term loan, and revolving credit facility feature springing maturities that were to become due on May 16, 2020, if certain...
Pittsburgh, PA—GNC Holdings reported their first quarter 2020 results, including a net loss of $200.1 million, compared with a net loss of $15.3 million for the first quarter of 2019. A press release on the topic notes that U.S. company-owned same-store sales decreased 10.1% compared to the first quarter of...
Pittsburgh, PA—GNC Holdings announced in a press release that as a result of the COVID-19 pandemic, the company has had to make “some difficult decisions” in order to protect the business’s long-term prospects. Measures taken include: A reduction in operating expenses including a hiring freeze and eliminating corporate merit increases...
Pittsburgh, PA—GNC has reported its fourth quarter and full year 2019 results, according to a press release. GNC reported consolidated revenue of $470.4 million in Q4, compared with $547.9 million in Q4 2018; the decrease in revenue, the press release says, is primarily a result of the transfer of the...
