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
- B. Riley Securities Announces Energy Convergence Conference on December 4th [Yahoo! Finance]Yahoo! Finance
- B. Riley Securities Announces Energy Convergence Conference on December 4thPR Newswire
- Going Public as PE Backed Company: NYSE Head of Financial Sponsor Coverage Tad Nacheff, Live from NYSE [Yahoo! Finance]Yahoo! Finance
- Vitamin Shoppe Owner Franchise Group Inc. Files For Chapter 11 [Forbes]Forbes
- B. Riley-backed Vitamin Shoppe owner files for bankruptcy [Yahoo! Finance]Yahoo! Finance
RILY
Sec Filings
- 11/4/24 - Form 8-K
- 10/31/24 - Form 8-K
- 10/30/24 - Form 8-K
- RILY's page on the SEC website