The health food industry has reacted with “sadness” at news of that The Health Store (THS) and GNC chain of stores in Ireland have been placed into administration.
Last week the High Court appointed provisional liquidators to businesses that operate 11 health food stores in the Leinster area, 10 of which sat under the THS brand and one trading as GNC.
Local media reports say that the Court heard that the two businesses, owned by the US-based GNC group, have been loss-making in recent years.
Posting on LinkedIn, Alan McGrath, national organiser, at Health Stores Ireland, said: “Health Stores Ireland is deeply saddened to hear of the sudden closure of The Health Store and GNC chain of stores. Our first thoughts are with the eighty-six highly trained, motivated and experienced staff … This is also a blow to the wider health food sector and our concerns extend to the suppliers and brands who continue to support a viable and thriving industry.
“:While owner-run health food stores operate on a different scale and ethos than corporate-owned chains, there are mutual interests regarding supply chains, brands, marketing support and training that may be impacted. Health Stores Ireland is committed to working for the benefit of the staff affected and supporting the sector. We hope an outcome will be found to preserve as many stores and jobs as possible.”
Brands fear that the development will have significant ramifications for the Irish health food sector, with one company telling Natural Newsdesk that the situation was a “disaster”.