Bankruptcy Filing Could Be GNC's Next Step

 
• By Malcolm Spicer

Payment is due on 16 May to reduce GNC's debt of more than $865m in convertible notes and other credit facilities to less than $50m. "Substantial doubt exists regarding our ability to reduce the" debt to less than $50m, says CFO Tricia Tolivar.

Past due statement

The largest US dietary supplement retailer, [GNC Holdings Inc.], has "substantial doubt" that it will reach a deal with creditors in less than a week and avoid filing for bankruptcy protection.

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