B. Riley-Backed Franchise Group Paid Millions in Bonuses Ahead of Collapse.

Franchise Group Inc., supported by B. Riley Financial Inc., paid $5.75 million in retention bonuses to insiders before filing for bankruptcy, with an additional $2.16 million going to key employees. These bonuses were not subject to review by creditors or federal oversight. The bankruptcy plan involves senior lenders taking ownership, with some businesses being auctioned off and others shut down. Some creditors oppose the plan, as it may wipe out their debt. [Extracted from the article]

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