GNC Files for Bankruptcy, Will Close up to 1,200 Stores

A man leaves a GNC store in New York, on Feb. 3, 2015. The New York Attorney General is investigating GNC, Target, Walmart, and Walgreen Co. for selling supplements that either couldn’t be verified to contain the labeled substance or that contained ingredients not listed on the label. AP Photo/Mark Lennihan

Health and nutrition retailer GNC filed for Chapter 11 bankruptcy protection, announcing that it will close between 800 and 1,200 locations while it tries to find a buyer.

The firm, in a letter to customers on Wednesday, wrote that “we felt the best opportunity for us to continue to improve our capital structure and address certain operational issues was to restructure through a Chapter 11 reorganization.”