tldrdaily.news logo
Tag

Franchise Group Inc

All articles tagged with #franchise group inc

business1 year ago

Bankrupt Furniture Chain Shuts Down All U.S. Locations

American Freight, a furniture store chain with over 300 locations nationwide, is closing all its stores, including 30 in Texas and one in northwest Austin, due to financial difficulties linked to inflation and macroeconomic challenges. The closures follow the bankruptcy filing of its parent company, Franchise Group Inc. Despite the shutdown, other brands under Franchise Group, like The Vitamin Shoppe, will remain open. Customers can avail discounts of up to 30% during the closing sales.

via KVUE.com|
#american-freight#bankruptcy#business
business1 year ago

National Furniture Retailer Shuts Down All U.S. Stores Amid Liquidation

American Freight, a major furniture and appliance retailer, is closing all 328 U.S. locations, including six in New York, due to its parent company Franchise Group Inc.'s Chapter 11 bankruptcy. The closures are attributed to inflation and macroeconomic challenges in the durable goods sector. Franchise Group's other businesses, such as Pet Supplies Plus and The Vitamin Shoppe, remain unaffected. Closing sales began on November 5, offering significant discounts as part of the liquidation process.

via Democrat & Chronicle|
#american-freight#bankruptcy#business
business1 year ago

American Freight Shuts Down Nationwide Amid Bankruptcy

American Freight is closing all 328 of its stores across 41 states as part of Chapter 11 bankruptcy proceedings by its parent company, Franchise Group Inc., which cited sustained inflation and macroeconomic challenges. The going-out-of-business sales will be managed by Hilco Consumer-Retail. Despite the closures, Franchise Group's other holdings, like The Vitamin Shoppe, will remain operational. Prior to the bankruptcy filing, Franchise Group paid $5.75 million in retention bonuses to insiders and $2.16 million to other employees to ensure continuity through the process.

via USA TODAY|
#american-freight#bankruptcy#business
finance2 years ago

"B. Riley and Nomura Under SEC Probe for Financial Dealings"

Investment bank B. Riley is reportedly under SEC investigation for its dealings with Brian Kahn, who is allegedly involved in a DOJ criminal case, while Nomura, a major Japanese financial group, is entangled in the probe due to its involvement in a lending syndicate for B. Riley. B. Riley has recently made significant investments in the bitcoin mining space, and Kahn, CEO of Franchise Group Inc., has been a longstanding client of the bank. The SEC probe is in its early stages, and Nomura, which backs several crypto-related entities, is not the primary focus of the investigation.

via CoinDesk|
#b-riley#bitcoin-mining#finance