A nutritional supplement business led by former professional bodybuilder Rich Gaspari has collapsed into bankruptcy under the weight of $16 million in debt, the Wall Street Journal reported today. Annual sales for Gaspari Nutrition Inc.’s muscle-building formulas like “Aminolast,” “Super Pump,” and “MyoFusion Advanced” have fallen from a peak of $78 million in 2011, said lawyers who put the New Jersey company into chapter 11 protection. The company, which sells its products online and at The Vitamin Shoppe, expects to make $45 million in sales this year. An affiliate of the U.K.-based Body Temple Ltd. has offered to pay $5 million in cash for the business, which is located near the Jersey Shore in Lakewood. At least one other buyer put in an offer for the company, which means that the business will be put up for auction on Monday, said Gaspari Nutrition lawyer Joshua Klein.
