Is it coincidence or necessity that GNC, the largest health care product in the United States, went bankrupt?

The world's largest health care product brand, founded in 1935, is headquartered in Pittsburgh, Pennsylvania, USA. /kloc-In June, 2008, the management of Jian 'anxi Company made a decision and paid nearly $4 million to its senior executives, including itself. Five days later, they were still the same group, and decided to apply for bankruptcy protection of Jiananxi Company by invoking Chapter 1 1 of the United States Bankruptcy Law, and planned to close 1200 of the 5,200 chain stores in the United States to find the next buyer. The last buyer of Jiananxi was Harbin Pharmaceutical Group from China. Jian 'anxi in the United States has been trying to repay the debt of nearly $65.438+billion by increasing sales for many years, and then coronavirus pneumonia -654.38+09 broke out in 2020, which became the last straw to crush it. The company lost $200 million in the first quarter of this year and closed about 40% of its stores.

Before the rise of e-commerce, Jiananxi was the preferred retailer of vitamins, protein powder and nutritional supplements in the United States. But by 20 15, it quickly lost its market share, because consumers began to turn to discount websites such as Amazon to buy health care products, and the development of e-commerce quickly weakened the dominant position of Jiananxi.

In recent years, due to the decline of domestic market share in the United States and changes in consumer preferences, the performance of GNC is not satisfactory. It has been losing money for many years, and the debt burden of the company is increasing day by day. The goal is to sell yourself and close the store.

GNC's revenue in the first quarter of this year was US$ 473 million, down 65,438+06.3% year-on-year; With the continuous decline in performance, GNC's share price has also continued to fall in recent years. Wind energy data shows that GNC's share price has fallen by 98.78% since its high level. In order to acquire GNC, Harbin Pharmaceutical Group has paid nearly 300 million US dollars (about 2 billion RMB) since 20 18. In just two years, GNC, an American medical giant, did not bring vitality to the overseas market expansion of Harbin Pharmaceutical Group. Instead, it lost 65.438+0.2 billion yuan and became a veritable receiver, while GNC still maintained normal operation. However, the company understands that according to the bankruptcy law of the United States, during the reorganization, in principle, all creditors are not allowed to claim their claims through legal procedures.