B. Riley-backed Franchise Group commences bankruptcy proceedings [Yahoo! Finance Canada]
B. Riley Financial, Inc. (RILY)
NASDAQ:AMEX Investor Relations:
ir.brileyfin.com/investor-relations
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Source: Yahoo! Finance Canada
Franchise said on Sunday it has agreed with 80% of its senior debt holders on a debt restructuring plan. Under the proposal, subject to court approval, Franchise said the creditor group has committed $250 million in debtor-in-possession financing and expected the deal to substantially reduce the company's debt and provide ample liquidity to maintain operations. The Delaware-based company added that it has also decided to wind down discount furniture retailer American Freight, which it had acquired in 2019 for $450 million. B. Riley did not immediately respond to a Reuters request for comment on Franchise Group's Chapter 11 proceedings. (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Chris Reese and Diane Craft) Recommended Stories
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RILY
Sec Filings
- 11/21/24 - Form 8-K
- 11/14/24 - Form 13F-HR
- 11/14/24 - Form SCHEDULE
- RILY's page on the SEC website