Business Insider reports that GNC filed for Chapter 11 bankruptcy protection late Tuesday night.<br />It will close between 800 and 1,200 stores as part of the restructuring process.<br />GNC blamed the COVID-19 pandemic for creating "a situation where we were unable to accomplish our refinancing."<br />GNC has secured $130 million in financing to aid it in the restructuring.<br />It has nearly $1 billion.<br />GNC's stores will remain operating as usual in the meantime.
