GNC files for Chapter 11 bankruptcy; plans to close up to 1,200 stores (Pittsburgh: wages, price)

[villageidiot1]

GNC files for Chapter 11 bankruptcy; plans to close up to 1,200 stores

How have they managed to last this long? I've bought supplements for years and I haven't been in a GNC for at least 15 years. They hassled you when you walked in the store and they are way overpriced. You would never see anyone in their stores, and with the decline in malls, the situation would be worse. I can't believe they were able to continue borrowing money. The article says they were $750M in dept.

[eschaton]

Maybe a silver lining of this if they folded is someone else might fix up their godawful HQ building downtown after they fold or move out? It's such an eyesore, though it was clearly a beautiful historic building once (and has a lot of charm left on the upper stories.

Used to look like this before the first three stories were butchered:

[szug-bot]

Originally Posted by villageidiot1

How have they managed to last this long? I've bought supplements for years and I haven't been in a GNC for at least 15 years. They hassled you when you walked in the store and they are way overpriced...

i agree - its just more stuff people dont REALLY need all that much. its marketing. i was into bee pollen at one time years ago during a weightlifting phase. the kid at the store (in a different city) was nice, but I realized everything there is overhyped, or else there are cheaper alternatives - like getting nutrition from fruits, losing weight, not smoking, etc.

and for the few people who do need supplements, like pro athletes - that can be had from online ordering.

[Knepper3]

Originally Posted by szug-bot

i agree - its just more stuff people dont REALLY need all that much. its marketing. i was into bee pollen at one time years ago during a weightlifting phase. the kid at the store (in a different city) was nice, but I realized everything there is overhyped, or else there are cheaper alternatives - like getting nutrition from fruits, losing weight, not smoking, etc.

and for the few people who do need supplements, like pro athletes - that can be had from online ordering.

Yeah my son is big into lifting, pretty much any brand they sell you can order online cheaper. Going into a GNC has never even crossed his mind.

[guy2073]

I stopped there years ago for melatonin, they made the shopping experience so awful i walked out.

[svband76]

Long time customer and pretty well-versed in nutritional supplements. GNC's brand was always hit-or-miss. They sold other quality brands as well. Their problem, for as long as I can recall, are the employees. They hire young and pay low wages for people that know nothing about what they're selling. The focus on the muscle head customer was also off the mark. The Vitamin Shoppe chain does it right. Sad, because GNC can stand to make a good profit with all this virus crap going on.

[Independentthinking83]

And PNC announced 39 branch closures in Pittsburgh, Cincinnati and Atlanta.

https://www.bizjournals.com/pittsbur..._news_headline

[Joe_P]

I don't know how they managed to last. Niche stores like them have been dying for a long time.

Retail is changing. So much more can be done online and looking at what you can do with a banking app. No need to deposit a check at a bank in most cases.

[Knepper3]

Originally Posted by Joe_P

I don't know how they managed to last. Niche stores like them have been dying for a long time.

Retail is changing. So much more can be done online and looking at what you can do with a banking app. No need to deposit a check at a bank in most cases.

Yes, PNC is adapting. Heck they have an "Location" in Bellevue, it is just a parking lot that has a stand alone ATM for customers. I use it pretty often. I've been inside a bank once in the last 3 years and that was because I needed to take out $1k in cash thinking the ATM wouldn't allow but they said it would so I went outside to the ATM.

[Joe_P]

Yes, PNC is adapting. Heck they have an "Location" in Bellevue, it is just a parking lot that has a stand alone ATM for customers. I use it pretty often. I've been inside a bank once in the last 3 years and that was because I needed to take out $1k in cash thinking the ATM wouldn't allow but they said it would so I went outside to the ATM.

And this will accelerate in the near future due to technology rapidly changing.