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NewAge, Seller of Health and Wellness Products, Files for Chapter 11 Bankruptcy
August 31, 2022
By: Reporting by Jonathan Stempel; Editing by Mark Porter
Source: Reuters
NewAge Inc NBEV.O, which describes itself as a direct-to-consumer seller of health and wellness products, filed for bankruptcy on Tuesday, three weeks after receiving a default notice on a loan agreement.
The Midvale, Utah-based company and three affiliates sought Chapter 11 protection from creditors with the U.S. bankruptcy court in Delaware. NewAge said it had $310.9 million of assets and $149.4 million of debts as of the end of last year.
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