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after years of pursuit we finally got into GNC this year
we scaled up inventory to rollout aggressively nationwide
but before we shipped the order...
covid19 hit
so we were stuck with two bad choices:
after years of pursuit we finally got into GNC this year
we scaled up inventory to rollout aggressively nationwide
but before we shipped the order...
covid19 hit
so we were stuck with two bad choices:
1.) ship the order and risk not getting paid
retail bullies small brands on payments and this was no different
we could have 1000s of units stuck in limbo
2.) put the deal on hold and risk never getting into GNC
nothing like throwing away years and years of work...
retail bullies small brands on payments and this was no different
we could have 1000s of units stuck in limbo
2.) put the deal on hold and risk never getting into GNC
nothing like throwing away years and years of work...
after a lot of back and fourth...
we decided to put the deal on hold
our logic was if covid19 spread throughout the country like here in Seattle...
our chance of success would be low
we could lose all of the product
and cash flow killed for the rest of the year
we decided to put the deal on hold
our logic was if covid19 spread throughout the country like here in Seattle...
our chance of success would be low
we could lose all of the product
and cash flow killed for the rest of the year
we politely said let’s wait and see and hope for the best
today GNC filed for bankruptcy and is searching for a buyer
who knows what will happen to all of the brands waiting to get paid
today GNC filed for bankruptcy and is searching for a buyer
who knows what will happen to all of the brands waiting to get paid
if we lost 1000s of units it would only take 1 or 2 more bad things to happen for shit to spiral out of control
always evaluate risk / reward
this game is about longevity
you want to play for as long as possible
always evaluate risk / reward
this game is about longevity
you want to play for as long as possible
sidenote GNC was not in a strong financial position before covid19
what if they said...
let's get as many new brands as we can and have them send us a lot of inventory
they don't have the $$$ to sue us
they will be at our mercy
possible?
idk this game is crazy
