Originally Appeared in Presence Marketing News, September 2019
By Steven Hoffman
The Natural Products Association, (NPA) the oldest trade group in the natural products industry, filed for bankruptcy protection on August 19, 2019, which it attributed to six straight years of losses and a costly arbitration with the association’s former CFO. According to Reuters, NPA CEO Daniel Fabricant said in a filing with the U.S. bankruptcy court in Wilmington, DE, that the Chapter 11 case will provide a “breathing spell” for the Washington, D.C.-based trade group to focus on advocacy and membership. Founded in 1936 and formerly known as the National Nutritional Foods Association, NPA said it has more than 1,000 members comprising over 10,000 retail, manufacturing, wholesale and distribution locations for natural foods, dietary supplements and natural health and beauty products. According to Reuters, NPA’s former CFO Brent Weickert holds the largest unsecured claim in the bankruptcy petition – a disputed $780,179 arbitration settlement awarded as a result of a wrongful termination lawsuit filed by Weickert in 2015 against NPA.