B. Riley Chairman Feels ‘Personally Sick' as FRG Goes Bankrupt [Yahoo! Finance Canada]
B. Riley Financial, Inc. (RILY)
NASDAQ:AMEX Investor Relations:
ir.brileyfin.com/investor-relations
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg The August 2023 deal for Franchise Group, or FRG, saw B. Riley take a stake of about 31%, with much of it pledged to B. Riley's lenders. The Chapter 11 bankruptcy that FRG declared Sunday erased FRG's equity, leading to another impairment of $120 million for Riley's Los Angeles-based company, on top of previous writedowns of up to $370 million, according to a statement. “This is not the outcome we ever envisioned,” said Riley, the firm's chairman, in an email to employees that was included in a regulatory filing. “I feel personally sick about this result.” B. Riley's shares tumbled as much as 20% in New York trading. FRG, which houses brands including Buddy's Home Furnishings and the Vitamin Shoppe, will be taken over by its lenders under a plan that will see some of the business continue operations, according to a Nov. 3 statement. Still, the implosion and wipeout of the FRG stake marks a stunning reversal for Riley and the company he founded along wit
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RILY
News
- Laconic Announces Joseph Niciforo as its New Chairman of the Board [Yahoo! Finance]Yahoo! Finance
- B. Riley Financial, Inc. (NASDAQ: RILY) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- The Great American Group Launches as New Independent Business Following Formation of Partnership between Oaktree and B. Riley [Yahoo! Finance]Yahoo! Finance
- AMC is poised to ride the box office rebound, as long as its debt doesn't get in the way [CNBC]CNBC
- The Great American Group Launches as New Independent Business Following Formation of Partnership between Oaktree and B. RileyPR Newswire
RILY
Sec Filings
- 11/14/24 - Form 13F-HR
- 11/14/24 - Form SCHEDULE
- 11/13/24 - Form 8-K
- RILY's page on the SEC website