Ending Soon! Save 33% on All Access

GNC Franchisees Endorse Settlement <b></b>

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

Mike Meyers, president and COO of GNC, said, "We are verypleased that the great majority of GNC franchisees have endorsedthis settlement. This is just one step in an ongoing and focusedplan to provide our franchisees with tangible businessimprovements. The franchising system is critical to the growth ofthe GNC brand, and we are committed to working with franchisees toincrease year-over-year sales and improve margins in what continuesto be a challenging retailing environment."

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

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

TikTok Reportedly Laid Off a 'Large Percentage' of Employees as the App's Fate in the U.S. Remains Unclear

Laid-off TikTok employees were notified Wednesday night through Thursday morning.

Business News

Four Seasons Orlando Responds to Viral TikTok: 'There's Something Here For All Ages'

The video has amassed over 45.4 million views on TikTok.

Business News

More People Are Exploring Entrepreneurship Because of This Unexpected Reason

More new business applications were filed in 2023 than in any other year so far.

Personal Finance

This Investment Bundle Includes a Trading Course and Stock Screener Tool for $150

Approach the stock market with an increased understanding.

Growing a Business

5 Strategies to Know As You Scale Your Business

Scaling a service-based company requires a comprehensive approach that goes beyond simply increasing revenue. It requires careful planning, strategic decision-making and a deep understanding of market dynamics.