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