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NewAge filed for Chapter 11 bankruptcy on August 30th. The filing affects subsidiary MLM companies Noni by NewAge and Ariix. As revealed in NewAge’s bankruptcy filing, the company has $310 million in assets and $149 million in debt. NewAge’s debt is broken down as follows: NewAge – ~$1 million NewAge Holdings – ~$18 million Noni [Continue reading...]
Source: NewAge files for Chapter 11 bankruptcy (Ariix & China)