The Franchise Group, owner of brands such as Vitamin Shoppe and American Freight, has filed for Chapter 11 bankruptcy. This development has raised concerns for B. Riley Financial, which provided backing for the Franchise Group. B. Riley is facing potential additional impairments related to its investment in the group, prompting a significant decline in its stock value. The bankruptcy proceedings have ramifications for various stakeholders, including unsecured creditors like the parent company of Sears/Kmart. This situation is compounded by the simultaneous bankruptcy declarations from two other large national retailers, each operating around 700 stores.