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GNC’s Deadline To Refinance Or Restructure Delayed Until August

 
• By Malcolm Spicer

GNC had faced a springing maturity date of 16 May for payments to reduce its debt of more than $865m in convertible notes and other debts from credit facilities to less than $50m.

Business Balance - A businessman carrying paperwork walking over a tight rope.

[GNC Holdings Inc.] avoids filing for bankruptcy protection a day before a payment on its debt was due by reaching an agreement with lender groups to extend the deadline.

The Pittsburgh-based nutrition, health and wellness manufacturer and retailers on 15 May announced it entered into amendments to convertible notes and other debts from credit facilities to extend the springing...

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