Global Health Sciences

Nutritional supplement maker files for bankruptcy Jan. 29 to facilitate sale of its business "as a going concern" through a competitive bidding process. Chapter 11 filing comes more than a month after GHS filed a breach of contract lawsuit alleging Herbalife reneged on a longstanding oral agreement to use GHS as its sole supplier. Herbalife accounted for roughly 57% of GHS' 1999 sales (1"The Tan Sheet" Jan. 22, p. 13)