NEW YORK (1010 WINS) -- GNC is looking to slim down, not bulk up.
The retail chain's parent company, GNC Holdings, has filed for Chapter 11 bankruptcy protection.
It will close between 800 and 1,200 stories.
"Our stores remain open to serve you and http://GNC.com is available for your 24/7 wellness needs," GNC tweeted Wednesday. "We promise to dedicate every day to finding new ways to raise the bar. This is only the beginning...GNC Live Well."
The company said in a statement that it’s looking to restructure its balance sheet at the same time it explores finding a potential buyer, with a minimum purchase price of at least $760 million.
The company expects to confirm a standalone plan of reorganization or a sale that will allow the business to exit from the bankruptcy process in the fall.