US firm GNC paid nearly $4 million in executive bonuses 5 days before filing bankruptcy

Author: Eamonn Sheridan | Category: News

Feel's like I'm getting all Zero Hedge with this one!

Via Washington Post:
  • Vitamin and nutrition chain GNC Holdings filed for Chapter 11 bankruptcy on Tuesday
  • plans to close as many as 1,200 of its 5,200 U.S. stores
  • company reported a $200 million loss during the first quarter of this year
  • GNC paid nearly $4 million in cash bonuses to top executives, bonuses issued on June 18, five days before the bankruptcy filing

Employees at the firm may need something a bit stronger than protein shakes when they read this?

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