PEMBROKE PINES, FL: Vital Pharmaceuticals, the owner of Bang Energy, has brought on C Street Advisory Group after filing for Chapter 11 bankruptcy protection in Q4 of last year.
C Street is serving as Vital’s strategy and communications firm, managing external and internal comms, effective last week, according to a source familiar with the matter.
Vital and C Street representatives did not respond to requests for comment on the companies’ partnership.
Vital said in October that it was filing for Chapter 11. At the time, it had more than 1,000 employees and nearly $600 million in assets.
The filing followed a string of lawsuits, including a case against former exclusive distributor PepsiCo. Most notably, competitor Monster Energy won $293 million in damages after alleging Bang falsely advertised the ingredients and health benefits of its products.
On Thursday, days after it was reported that Vital was set for bankruptcy court auction, the Bang owner shuffled its executive leadership. It said in a statement that founder Jack Owoc would exit his roles as CEO and chief science officer and leave the company’s board. Chief technology officer John DiDonato was named Vital’s interim CEO, effectively immediately. Vital also promoted Bang Energy EVP of sales Gene Bukovi to COO.
As well as Bang, Vital produces products including keto-friendly Meltdown, Quash, Vooz and Redline.
In November, BlockFi turned to C Street for strategic restructuring and communications support after it filed for Chapter 11.