US retailer Vitamin World which operates 334 stores has filed for Chapter 11 protection in order to restructure its business. Previously owned by NBTY Inc., Vitamin World sells vitamins and health supplements from its stores which are primarily located in shopping malls and outlet centres.
It has closed 45 under-performing stores since 2016 has identified a further 51 which it wants to lose during the bankruptcy process. CFO Frank Conley said in Vitamin World’s court filing that the business had suffered significant supply chain and ingredient availability issues during its transition away from NBTY.
Vitamin World’s problems are far from unique in the current challenging US retail market. Other retailers including Rue21, Gymboree, True religion and Payless have all leveraged the Chapter 11 process to shed unprofitable store leases.
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