Vitamin World, a seller of vitamins and nutritional supplements, plans to file for chapter 11 protection, hoping to end costly lease agreements for some of its stores, the company’s chief executive officer said yesterday, Reuters reported. Long Island, New York-based Vitamin World plans to file bankruptcy in order to exit real estate leases that were negotiated by its previous owners, the said CEO Michael Madden. The vitamin seller, which has about 345 stores, plans to file bankruptcy as soon as this month. “This action will empower us to move forward as a stronger organization that can and will continue to service our millions of loyal customers with premium offerings via retail and online channels,” Madden said. Private equity firm Centre Lane Partners acquired Vitamin World from global vitamin maker NBTY Inc last year for about $25 million. NBTY sold the business because it had shifted to investing in its core brands, such as Nature’s Bounty and Sundown Naturals, found in major retailers across the U.S.
