Franchise Group, Inc.

  1. February 03, 2025

    Lenders Want Willkie Out Of Franchise Group Ch. 11

    An ad hoc group of lenders in retail chain operator Franchise Group Inc.'s Chapter 11 has objected to the company's request to retain Willkie Farr & Gallagher LLP, arguing the firm cannot represent the debtor and its affiliates due to "red flags" indicating conflict of interest.

  2. January 21, 2025

    Judge OKs Deal To Keep Some American Freight Stores Open

    A Delaware bankruptcy judge on Tuesday approved a sale in Chapter 11 that will keep the lights on in more than two dozen American Freight home furnishing stores by transferring their leases from the bankrupt Franchise Group.

  3. January 14, 2025

    Willkie Shouldn't Rep Franchise Group In Ch. 11, Says Trustee

    The Office of the U.S. Trustee has objected to Willkie Farr & Gallagher LLP serving as co-counsel for debtor Franchise Group Inc. in its Chapter 11, saying the firm did prepetition work for Franchise's ex-CEO and affiliates on transactions that led to Franchise being indebted in the first place.

  4. December 17, 2024

    Franchise Group Can Keep Exclusive Control Of Its Ch. 11

    A Delaware bankruptcy judge on Tuesday denied a motion to end the plan exclusivity window and other bankruptcy rights for debtors in Franchise Group Inc.'s Chapter 11, saying possible intercompany claims don't justify relief that the debtor argued would plunge the case into chaos.

  5. November 21, 2024

    Franchise Group Lenders Want End To Debtor's Ch. 11 Rights

    Lenders of bankrupt retail-focused holding company Franchise Group Inc., including Pacific Investment Management Co. and private equity firm Irradiant Partners, have urged a Delaware bankruptcy judge to end holdco debtor Chapter 11 exclusivity restrictions, arguing that the move offers the best escape from a near-inescapable "Gordian knot" entangling all their claims.

  6. November 12, 2024

    3rd Circ. Weighs Boy Scouts Ch. 11, Calif. AG Balks At Fee Bid

    The Third Circuit heard arguments on Boy Scouts of America's Chapter 11 plan from sexual abuse survivors as well as insurers, California's attorney general disputed Sullivan & Cromwell's fee requests in Kidde-Fenwal Inc.'s bankruptcy, and the U.S. trustee is seeking documents from Jackson Walker LLP regarding a former attorney's secret relationship with a bankruptcy judge. This is the week in bankruptcy.

  7. November 12, 2024

    Holding Co.'s $6B CMBS Exposed By Bankruptcy, Report Says

    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.

  8. November 07, 2024

    Meet The Attys Guiding Vitamin Shoppe Owner Through Ch. 11

    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.

  9. November 06, 2024

    Vitamin Shoppe Owner Gets OK For Trimmed Ch. 11 Loan

    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.

  10. November 06, 2024

    The Story Behind Franchise Group's Ch. 11 Case

    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.