Business

GNC completes Chapter 11 reorganization process

By Nate Doughty – Digital Producer, Pittsburgh Business Times

Pittsburgh-based GNC considers filing for bankruptcy Pittsburgh-based GNC considers filing for bankruptcy

By Nate Doughty – Digital Producer, Pittsburgh Business Times

PITTSBURGH — Downtown Pittsburgh-based GNC Holdings LLC announced it completed its Chapter 11 bankruptcy plan of reorganization and that it will begin to “wind-down the affairs of the remaining bankruptcy estates,” pay allowed claims and resolve those in dispute according to a press release.

On Oct. 7, GNC had a substantial amount of its assets acquired in a $770 million sale to Harbin Pharmaceutical Group Holding Co., its largest shareholder, which let GNC improve its financial standing following adjustments it made to its store footprint and restructuring plan.

Read more from our news partners at the Pittsburgh Busines Times.

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