Pittsburgh-based GNC Holdings LLC announced that it completed its chapter 11 bankruptcy plan of reorganization and that it will begin to "wind-down the affairs of the remaining bankruptcy estates," pay allowed claims and resolve those in dispute, the Pittsburgh Business Times reported. On Oct. 7, GNC had a substantial amount of its assets acquired in a $770 million sale to Harbin Pharmaceutical Group Holding Co., its largest shareholder, which let GNC improve its financial standing following adjustments it made to its store footprint and restructuring plan. The company plans to continue providing "innovative wellness solutions to customers" and that the chapter 11 plan and sale to Harbin will allow the company to continue to expand.
