B. Riley plunges after Franchise Group files for bankruptcy protection

Nov 4 (Reuters) - B. Riley Financial's (RILY.O) shares plunged 15% in premarket trading on Monday, after Franchise Group, a company in which the bank has a substantial investment, filed for bankruptcy protection. The bank's stock has struggled this year amid investor concerns about its exposure to Franchise Group. These worries intensified in August when B Riley warned its investment in the Vitamin Shoppe-owner could lead to a writedown and losses for the second quarter ending June 30. Franchise Group said on Sunday it has commenced voluntary Chapter 11 proceedings...