Vitamin Shoppe Owner Files For Bankruptcy

RetailFranchise
Written By Rick Watson

Franchise Group is the parent company of banners like Pet Supplies Plus, The Vitamin Shoppe, and Buddy’s Home Furnishings.

Franchise Group, the owner of Pet Supplies Plus, The Vitamin Shoppe, and Buddy’s Home Furnishings, has filed for Chapter 11 bankruptcy. The company went private about 18 months ago in a $2.6 billion deal. Still, it has over $2 billion in debt as its American Freight business has continued to be impacted by rising interest rates. Franchise Group will convert 80% of its first lien debt into 100% equity in the reorganized business.

Retail Dive: Vitamin Shoppe owner files for bankruptcy

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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