It always seemed very nitch and over priced to me.
They were forced to stay closed during the lock down while CVS was allowed to open. Can’t believe they didn’t have lawyers to fight the store lock downs.
That's not much liquidity. You would think they would have more than that in the register.
I noticed over the last several years they were hawking more energy and testosterone supplements and not much of the nutritional items that stores such as The Vitamin Shoppe carried. I also seem to remember they had a lot of mall locations which couldn't be good.
Dayum. Kinda harsh, don'tcha think? Then again, we're always told that investing is risky.
Reminds me of that scene from The Jerk.
Expect GNC products to be sold primarily by drug store chains like CVS, Walgreens, and Rite Aid very soon.
A nitch retailer that is mostly bricks and mortar is a questionable enterprise when that nitch (other than the GNC brand name) is also sold by many generalist retailers and retail specialists like supermarkets, pharmacies and health food stores, as well as dozens of Internet retail venues and all the “big box” stores.
I think if there is any superior value in the GNC branded items, then the GNC survival story may be in the GNC brand getting into all the retailers the GNC stores have been competing with, with all the GNC stores closing. But, I am not clear on just how great is the GNC branded items, in terms of quality. That answer some experts on the subject would no better than I.
My mom was an early 70’s health nut and would shop there often. She eventually stopped, feeling they had become too niche-y and overpriced. Headquartered in downtown Pittsburgh where I’m sure there will be some jobs lost.
Oh the horrible memories of wheat germ and carob.
Its largest shareholder is Chinese. Harbin Pharmaceutical Holdgs.
They weren’t that great anyways. I always wondered how they managed to stay in business.
Seriously never understood how this place stayed in business, there was never anyone in there that I could see. I honestly thought it was a very sophisticated Front Operation this whole time.
Vitamins will be discounted. woo hoo!
It is said when you are in a deadmall, the GNC store is the last store to leave...
I quit going there many years ago. I went to a local store to pick up some things. When I was checking out the guy kept trying to force me to buy vitamins I did not want nor need. I have not gone back.
Another retailer has succumbed to bankruptcy during the coronavirus pandemic
************
Bankruptcies in general are rising. The economic fallout from this epidemic is far from over.
Niche. Niche. For the love of all that is holy, the ruddy word is “niche”.
The Radio Shack of the vitamin industry. Why didn’t they just go online to begin with, or maybe negotiated with Walmart to sell their brand in its stores?
Morons
Good. They pissed me off years ago when the cashier argued with me about using their stupid discount cards that expired every few months. By the third time I was sick of filling out another form and said I would rather pay full price. The guy gave me a hard time! I said screw it and walked out. Crappy business model.
I used to be regular GNC customer. Then I started ordering supplements from a catalog company called Swanson, and now order from their website. Haven’t been in a GNC for years. Still, I hate to see another retailer fail due to COVID shutdowns.
WAAAAAAY overpriced inventory. The only surprise here is that it took so long for them to implode.