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Latest Bodybuilding.com News
Jan 29, 2023
Sam Bankman-Fried founded the now-bankrupt crypto exchange FTX.Tom Williams/Getty Images FTX owes money to a lot of companies. Many on the list of creditors are small Bahamian businesses. Among FTX's other creditors include Bodybuilding.com, an Idaho-based retailer that sells bodybuilding supplements. Insider looked through the 116-page court document to find the most surprising names among its creditors. It's no secret now that bankruptcy proceedings are well underway that Sam Bankman-Fried's FTX owes a lot of people a lot of money. The failed crypto exchange owes more than $3 billion to its top 50 creditors alone, according to court documents. The laundry list of names runs the gamut from commercial airliners like Southwest, news outlets like the New York Times and Wall Street Journal, elite schools like Stanford University, and A-list celebrities like Larry David. Large institutional investors JPMorgan and Goldman Sachs were named too. Although the list does not say how much money each party is owed, the company is estimated to have at least one million creditors, including 9.7 million individual names which have been sealed off, per request from FTX attorneys. Many companies and individuals named on the list may not end up being creditors, but instead someone who has previously done business with FTX, according to a court filing. Insider looked through the 116-page court document to find the most surprising names. From Bahamian businesses to a bodybuilding website Bankman-Fried's embattled firm may need pay up to make whole an Idaho-based retailer that sells bodybuilding supplements. The company streams live broadcasts of bodybuilding competitions, posts workout plans, and has a fitness-themed social network. "We are Bodybuilding.com. Your transformation is our passion. We are your personal trainer, your nutritionist, your supplement expert, your lifting partner, your support group," the company's website reads. Bodybuilding.com did not immediately respond to Insider's request for comment. There are also a slew of businesses in the Bahamas that are listed creditors as well. Bankman-Fried and certain FTX employees lived in a $40 million penthouse in Albany, an exclusive private community in Nassau. The luxury residency, however, was put up for sale when FTX filed for Chapter 11 bankruptcy late last year. The prime minister of the Bahamas was also listed. The once $32 billion crypto empire could owe money to local drug store Pharma Choice, along with pest exterminator A+ Pest Control, and commercial waste management service Bahama's Waste. There's a small garden center called Pam's Plants Ltd. that also appears on the lengthy list. The owner of the nursery declined to comment when reached by phone. The Tribune, a news outlet of The Bahamas, said Friday that many local creditors were owed negligible sums, with some describing the amount as "non-existent". Still, the list of names shows the widespread dealings of FTX with businesses in the community and its ties to the island nation's economy. Outside of The Bahamas, 24hourwristbands.com, a promotional product manufacturer with a 24-hour turnaround time, made it, along with Coachella, The Container Store, Water.com, and Australia Attorney-General's Department. FTX lawyers told a Delaware bankruptcy judge earlier this month that the company has recovered $5 billion of liquid assets. John Ray III, the new chief exec of FTX, said he's looking into potentially resuming the exchange's operations during its bankruptcy process. "Everything is on the table," Ray, who oversaw Enron's restructuring, told the Wall Street Journal. "If there is a path forward on that, we will not only explore that, we'll do it." Read the original article on Business Insider
Bodybuilding.com Frequently Asked Questions (FAQ)
When was Bodybuilding.com founded?
Bodybuilding.com was founded in 1999.
Where is Bodybuilding.com's headquarters?
Bodybuilding.com's headquarters is located at 431 Railroad Avenue, Camp Hill.
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