Franchise Group, the company at the heart of a troubled management buyout that has devastated the stock of B. Riley Financial, has filed for bankruptcy — but plans to keep open most of its retail brands,

Franchise Group filed its chapter 11 petition in the U.S. Bankruptcy Court in Wilmington, Del., after going private last year in a management buyout arranged by B. Riley, a Los An

Franchise Group Inc., the owner of brands including the Vitamin Shoppe, Buddy’s Home Furnishings and Pet Supplies Plus, filed for bankruptcy protection after months of losses and turmoil surrounding its backer B.