B. Riley-backed Franchise Group commences bankruptcy proceedings-March 2024-www.financetom.com

B. Riley-backed Franchise Group commences bankruptcy proceedings

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B. Riley-backed Franchise Group commences bankruptcy proceedings

Nov 3, 2024 3:41 PM

Nov 3 (Reuters) - Vitamin Shoppe-owner Franchise Group

said on Sunday it has commenced voluntary Chapter 11 proceedings

in the U.S. Bankruptcy Court for the District of Delaware.

The B. Riley Financial ( RILY ) backed company said it

entered into a restructuring support agreement with holders of

approximately 80% of its first lien debt in a comprehensive

solution to strengthen its capital structure.

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