Avon Products Inc. announced significant developments in its bankruptcy proceedings. A comprehensive settlement and asset sale has been approved and, as of March 5, the company has emerged from Chapter 11 with a clear path forward.
Tupperware Brands Corporation announced it has voluntarily initiated Chapter 11 proceedings. The company stated it will also seek court approval to continue operations during the proceedings and will pursue a sale process with the intention of protecting the brand. In 2020, the company announced a Turnaround Plan that it believed would dramatically right-size its cost […]
Tupperware Brands will file for bankruptcy later this week, according to a Bloomberg News report. This news follows protracted negotiations between the legacy brand and its lenders regarding how to manage the company’s more than $700 million in debt. The company’s shares were down 15.8% yesterday after the bell, and down 57% at closing. According […]
NewAge, Inc. announced that it has filed for a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.
According to a report by the Newark Advocate, Longaberger parent company JRjr33, also known as CVSL and JRJR Networks, filed for Chapter 11 bankruptcy last Friday in U.S. Bankruptcy Court for the Northern District of Texas. JRjr33 representatives failed to show for a court-ordered conference Friday in Franklin County Common Pleas Court, in Columbus. The conference, a judgment debtor […]
Stemtech, a global seller of nutritional products based in Pembroke Pines, Florida, has teamed up with new investment partners who will add significant value to the company in the areas of finance, product development and global strategic planning. Ray Carter, a director of many of the Stemtech sister companies around the world, said he views this as a major positive […]
In a story we posted online Dec. 18, 2017, and in our January issue of Direct Selling News, we incorrectly reported that Stemtech International, a global seller of nutritional products based in Pembroke Pines, Florida, had filed a motion with the U.S. Bankruptcy Court to convert its Chapter 11 bankruptcy status to Chapter 7. It was […]