November 12, 2024
Franchise Group Inc.'s $6.18 billion worth of commercial mortgage-backed securities are at risk of exposure after the retail-focused holding company declared Chapter 11 bankruptcy, which has caused the company to close down more than 300 store locations, according to a report from the analytics team of credit ratings agency KBRA released Tuesday.
November 07, 2024
A team of attorneys from Young Conaway Stargatt & Taylor LLP and Willkie Farr & Gallagher LLP are representing Franchise Group Inc., the owner of Vitamin Shoppe and other franchise brands, in Chapter 11 as it seeks to restructure its nearly $2 billion of debt.
November 06, 2024
The owner of the Vitamin Shoppe retail chain and other businesses received interim approval Wednesday from a Delaware bankruptcy judge for a slimmed-down Chapter 11 loan after the lenders agreed to more favorable financing terms.
November 06, 2024
Franchise Group Inc., the owner of Vitamin Shoppe and other franchise brands, filed for Chapter 11 bankruptcy amid challenging macroeconomic conditions and headwinds in the retail industry, coupled with the high costs of investigating its founder's involvement in a hedge fund collapse, according to court filings.
November 05, 2024
A proposed $250 million bankruptcy loan sought by the owner of the Vitamin Shoppe retail chain and other businesses drew substantial opposition Tuesday at a first-day hearing in the company's Chapter 11 case, with some creditors saying the financing is too large and too expensive.
November 05, 2024
Several companies sought Chapter 11 bankruptcy protection this week, reflecting diverse challenges across industries. TGI Fridays and Rainbow Production Services cited economic pressures and a post-COVID downturn, while Star Transportation and New Jersey nonprofit CarePoint Health Systems pointed to rising costs and funding issues that intensified after the pandemic.