GNC Holdings Inc.s financing problem has gone from business still pending to urgent.
The clock is ticking for the health-product retailer after it tried in vain three times to refinance its debt. Not only does GNC have debt that begins to fall due in less than nine months, it could face questions as soon as March over its ability to continue as a going concern if it fails to strike a deal with lenders.
That might leave the company, which has hired Goldman Sachs Group Inc. to review its future, with little choice but to restructure its debt, perhaps through a swap, according to Fitch Ratings. Other ways to address its $1.4 billion of borrowings include selling assets, boosting franchise agreements or an outright sale of the fi…
Read the full article at: https://www.bloomberg.com/news/articles/2017-12-11/gnc-s-miss-on-debt-refinance-leads-fitch-to-see-restructuring