{
Vitamin Shoppe Inc.

Companies

}

franchise group awards millions in bonuses before bankruptcy filing

Franchise Group Inc., backed by B. Riley Financial Inc., disbursed $5.75 million in retention bonuses to insiders as it faced bankruptcy. Additionally, key employees received $2.16 million in bonuses, which can be reclaimed if they leave early, as noted in court documents from the Chapter 11 case.
Bloomberg.com
B. Riley Financial, Inc. American Freight Inc. Franchise Group Inc. Vitamin Shoppe Inc. USA Show more
Finance & Economy, News Article
19:07 07.11.2024

franchise group files for chapter 11 bankruptcy amid financial struggles

Franchise Group Inc., owner of brands like Vitamin Shoppe and Pet Supplies Plus, has filed for Chapter 11 bankruptcy protection in Delaware, citing significant losses and turmoil involving its founder and backer, B. Riley Financial Inc. The company reported assets and liabilities between $1 billion and $10 billion and is set to transfer control to lenders, including HPS Investment Partners, following extensive restructuring negotiations.
Bloomberg.com
B. Riley Financial, Inc. HPS Investment Partners LLC Franchise Group Inc. Pet Supplies Plus Vitamin Shoppe Inc. USA Show more
Finance & Economy, News Article
00:23 04.11.2024
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