GNC Holdings (GNC) operates under a significant debt burden and one of the key drivers of the company's depressed market valuation. The challenges the company faced earlier this year refinancing its maturing term loan reflected deep skepticism in the credit markets about the company's ability to successfully navigate a difficult retail environment generally and, more specifically, the competitive factors in the company's core supplements and vitamins segment.
However, despite the challenges, the company is making incremental progress. The closing of the Harbin preferred stock transaction, albeit in stages, will significantly reduce the company's