by DELAWARE, Ohio — The Top 50 largest unsecured creditors in Franchise Group’s Chapter 11 bankruptcy are owed more than $64.5 million, according to the initial filing issued Nov. 3 in U.S. Bankruptcy Court for the District of Delaware.
Overall, the filing lists an estimated 50,000 to 100,000 creditors overall who are owed between $1 billion and $10 billion by the company and its subsidiaries including The Vitamin Shoppe, American Freight, Pet Supplies Plus and Buddy’s Home Furnishings. The company listed a similar dollar value of assets.
Included in this list of top creditors are a number of furniture and bedding companies owed money for products and services they provided to Buddy’s Home Furnishings and American Freight.
For example, the bedding resource with the largest amount owed on the list is Solstice Bedding, which does business as Jamison Bedding. It is owed $2,940,533.
Others on the list of top 50 unsecured creditors include:
+ Living Style Singapore, owed $2,145,092.
+ Standard Furniture Manufacturing Co., owed $1,804,776.
+ Elements International Group, owed $1,737,805.
+ Titanic Furniture, owed $1,192,831.
+ Peak Living, owed $1,185,784.
+ Albany Industries, owed $1,127,625.
+ Muebles Briss, S.A. De C.V., owed $912,197.
+ Kith Furniture, owed $468,348.
Other vendors on the list include nutritional supply companies, logistics companies such as UPS and Uber Freight, as well as appliance companies and pet food and supply companies, including Nestle Purina Petcare Co., owed $6,531,672.
The degree to which these companies get paid ultimately depends on the restructuring process including what’s recouped and distributed from various store closing sales at American Freight.
