GNC Closing 200 Stores

GNC Holdings Inc. (Pittsburgh) announced it will close 200 stores this year as it strives to cut costs and manage its $1 billion in debt. Its U.S. brick-and-mortar store sales were down 1.9 percent in the first quarter.

GNC’s shares fell 1.4 percent to $3.81, a dramatic fall from its $10.95 shares this past August, reports Bloomberg.

It currently operates 8905 stores worldwide, 3385 of which are in the U.S. This past February, it announced the investment of $300 million from Harbin Pharmaceutical Group Holding Co. (Beijing) to repay outstanding debt.