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?


For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose