GNC Franchisees Endorse Settlement

1 min read
Opinions expressed by Entrepreneur contributors are their own.

Pittsburgh-General Nutrition Companies Inc. today announced that more than 75 percent of its franchise operators have accepted the previously announced proposed settlement of three lawsuits seeking class action status for all of GNC's U.S. franchisees. The settlement was scheduled for final approval in federal court in Pittsburgh.

Mike Meyers, president and COO of GNC, said, "We are very pleased that the great majority of GNC franchisees have endorsed this settlement. This is just one step in an ongoing and focused plan to provide our franchisees with tangible business improvements. The franchising system is critical to the growth of the GNC brand, and we are committed to working with franchisees to increase year-over-year sales and improve margins in what continues to be a challenging retailing environment."

Under the terms of the settlement, GNC is committed to providing participating franchisees with, among other things, a total of approximately $2.7 million in wholesale credits on purchases of the company's private label products over the period of 24 months. -Miller DeMartine Group

More from Entrepreneur

Terry's digital marketing expertise can help you with campaign planning, execution and optimization and best practices for content marketing.
Book Your Session

For a limited time only, get this bundle of Entrepreneur PressĀ® titles for less than $30 (60% OFF) on our bookstore when you use "LEAP" at checkout.
Buy Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.